Coffee drawn from farmers and estates have earned Sh637.1 million after sale of 12, 144 bags during this week’s Nairobi Coffee Exchange auction conducted on Tuesday.
The income was an increase as compared to Sh429.9 million that was netted during last week’s auction.
In the category of brokers, Alliance berries limited traded the highest volume of 5, 162 bags at Sh283 million.
Minnesota Coffee Marketers sold 1, 587 bags of coffee at Sh81.9 million followed by Kipkelion Broker Company which sold 1, 455 bags at Sh75.7 million.
In the auction, Ndundu Factory which is part of Thiririka Farmers’ Cooperative Society earned the best price after selling 142 bags of grade AA at Sh51,389 per bag. The factory’s coffee was sold by Alliance Berries Ltd and purchased by C. Dormans Ltd.
Kagumoini factory and New Weithaga both in Murang’a County earned Sh51, 131 and Sh51,002 per bag of grade AA.
Other factories that also fetched best prices included Mutitu; Sh.50, 873, Karani; Sh50,615 and Wanjengi netting Sh50, 873 per bag of grade AA.
In the buyers’ category, Sasini Company Ltd purchased the highest volume of 2,775 bags for Sh151. 7 million, Taylor Winch bought 2,598 bags that fetched Sh.143.9 million, C Dorman ltd, 2,369 bags for Sh132.3 million and Ibero Kenya 2,015 bags for Sh95.4 million.
In her remarks, NCE CEO Ms Lisper Ndung’u said the eight coffee brokers delivered 7,800 bags of grade AA and AB compared to 6,071 bags that were traded last week.
Ndung’u noted 12 local and international buyers participated in the auction saying the auction market pays higher for the quality grades, thus the need for the growers to be encouraged to focus on producing high quality coffee.
“Alliance Berries Ltd delivered 5,162 bags of coffee, where 4,122 bags were of the grade AA and AB,” said Ms Ndung’u.
The CEO lauded coffee farmers for embracing auction trading platforms, saying the cooperatives and societies have gained more.
The coffee auction, she said, was the most transparent system that farmers and other interested parties can follow electronically.
“Farmers are reaping best prices through the online coffee trading system, with the Direct Settlement System (DSS) having replaced the past barred transparency in the sector,” added the CEO.
By Bernard Munyao
