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Kenyan Coffee Rises on Global Rally After Five Weeks of Declines

May 7 (Bloomberg) -- Kenyan coffee prices rose at a weekly auction, rebounding from five weeks of declines in line with a global rally.

The average price for all coffee sold gained 8 percent to $152.66 for a 50-kilogram (110-pound) bag from $141.35 a week ago, the Nairobi Coffee Exchange said today by e-mail. The benchmark AA grade advanced 7.9 percent to average $285.15.

Kenya produces arabica coffee, sought after for blending into specialty beverages. Export destinations for its beans include Germany, the U.S. and Sweden, according to the Kenya Coffee Producers and Traders Association, which owns the exchange. Arabica futures gained the most this year in New York trading on May 2, according to figures compiled by Bloomberg.

Sales climbed 41 percent to 7,437 bags worth $1.38 million, from 5,257 bags valued at $906,251 at the previous sale, the exchange said. Supplies increased 1.5 percent to 21,780 bags.

Following are details of today’s auction in dollars a 50-kilogram bag:

Grade          Low            High          Average
AA             182            328            285.15
AB             120            228            182.50
C              109            169            146.72
E              245            296            254.12
HE             122            131            124.11
MH              86            122            112.87
ML              76             79             77.32
PB             148            209            190.71
SB              64             78             69.75
T               82            138            123.30
TT             128            193            150.79
UG1            121            137            132.58
UG2             49            126             92.24
UG3            119            119            119.00

To contact the reporter on this story: Fred Ojambo in Kampala at fojambo@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net.

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