NAIROBI: Coffee farmers and estates in Kenya have achieved a significant financial milestone, earning Sh1 billion from the sale of 19,017 bags at the Nairobi Coffee Exchange (NCE) auction this week. This marks an increase from last week’s earnings of Sh872.7 million from 17,293 bags.
According to Kenya News Agency, the auction saw Gatina Coffee Factory, part of Mugaga Farmers’ Cooperative Society in Nyeri County, secure the highest price by selling 44 bags of grade AA coffee at Sh56,944 each. The NCE report highlighted that a total of 2,208 bags of grade AA from various factories were sold at prices exceeding Sh51,788 per bag.
Eleven coffee brokers participated in this week’s auction, with Alliance Berries leading by handling 7,910 bags that brought in Sh432.7 million. They were followed by Kirinyaga Slopes Brokerage Company with 3,016 bags, KCCE with 2,132 bags, Kipkelion with 1,964 bags, and New KPCU with 1,438 bags. Other brokers included Minnesota Marketers, Murang’a County Coffee Mills, Mt Elgon, Bungo
ma Marketing Agency, Kiambu Coffee Marketing Agency, and United Eastern Coffee Marketing Company.
Grades AA and AB accounted for 14,328 bags, about 75 percent of the total volume traded, fetching Sh822.9 million. The auction attracted 13 local and international buyers, with Taylor Winch purchasing 4,972 bags for Sh281.1 million, followed by Ibero Kenya acquiring 4,732 bags for Sh236 million, and Kenyacof buying 2,778 bags for Sh162.4 million.
Lisper Ndung’u, the CEO of NCE, noted the increasing volume of coffee being traded at the auction and the rise in premium coffee quality. She urged farmers to focus on producing high-quality coffee, which is in high demand internationally. Ndung’u emphasized the importance of cooperative society leaders leveraging the current market conditions to maximize earnings from the lucrative prices offered at the NCE.