Kenyan Average Coffee Price Is Little Changed in Auction Today
Kenyan coffee prices were little changed at an auction today, the Nairobi Coffee Exchange said.
The average price for all coffee sold fell to $280.34 a bag, from $280.87 last week, the Nairobi-based exchange said in an e-mailed statement. Sales rose 20 percent to 7,896 bags, worth $2.69 million, and supplies increased by 1.9 percent to 27,406, compared to last week’s auction.
The average price for the benchmark AA grade dropped to $377.27 for a 50-kilogram (110 pound) bag, compared to $405.73 a week earlier, the exchange said. Supplies of the grade fell 13 percent to 4,574 bags from 5,267 bags, while sales fell 55 percent to 261 bags from 584 bags.
Kenya harvests most of its crop from October through December, while a secondary crop is collected from April to June. The nation, whose output fell 13 percent in the year ended Sept. 30, hasn’t made a forecast for this year, Isaac Muchomba, secretary for Kenya Coffee Traders Association, said in an interview today.
The following are details of today’s auction in U.S. dollars for a 50-kilogram bag:
Grade Low High Average AA 236 431 377.27 AB 212 371 321.37 C 172 275 242.99 HE 226 227 226.57 MH 180 187 181.61 ML 102 102 102.00 PB 218 371 311.05 T 147 229 214.70 TT 220 314 263.79 UG 232 232 232.00 UG1 226 236 233.81 UG2 101 185 124.82
To contact the reporter on this story: Fred Ojambo in Kampala at firstname.lastname@example.org.
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