Coffee Grosses Sh619 Million At Auction As NCE Heads For Recess

Coffee drawn from various societies and estates on Wednesday netted Sh619 million at the Nairobi Coffee Exchange (NCE) as the auction took a three-week recess.The auction witnessed an increase of volume traded where 19, 031 bags of coffee were sold as compared to 10, 737 bags that were auctioned last week.A total of 9, 240 bags of premier grades of AA and AB representing 48 percent of total volume auctioned, earned farmers Sh439 million.Alliance Berries limited led seven other agents by trading the highest volume of coffee amounting to 9,456 bags earning Sh299.7 million.New KPCU traded 3,101 bags followed by Minnesota Coffee Marketers Ltd which sold 2,093 bags and Kipkelion Broker Company sold 1,097 bags.Maganjo factory of Nyeri County earned the highest price after selling a bag of grade AA at Sh41, 728.The factory which is part of Ramukia coffee had 39 bags of grade AA which was presented for auction by the New KPCU.New Mitaboni factory got the second best price after netting Sh38,678 per bag of grade AA while Gathaithi factory earned Sh37, 779 per bag of the premier grade.In the category of buyers, Ibero Kenya limited led other 21 buyers drawn locally and internationally by purchasing 5,395 bags of coffee at Sh172.7 million.Kenyacof limited bought 3,216 bags of coffee at Sh98.5 million, while C.Dorman Ltd purchased 2, 123 bags at Sh79.5 million.Other buyers including Louis Dreyfus Ltd bought 2, 478 bags at Sh76.45 million, Taylor Winch Coffee Company purchased 1, 732 bags at Sh67 million and Sasini Limited spent Sh39. 8 million for 1, 328 bags.NCE chief executive officer Lisper Ndungu said the auction was shifted from Tuesday to yesterday due to the Gen Z anti-government protests that were witnessed in some parts of the country.She noted that the auction was done successfully saying the average price for a kilo of cherry was Sh80 and Sh26, 214 per bag of 50 kilos.Ndung'u called upon cooperative societies to make plans and pay farmers without delay saying the auction has proceeded for a three-week recess and is expected to resume on August 6.Source: Kenya News Agency