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Kenya Coffee Prices Drop as Stockpiles Sufficient to Meet Demand

May 14 (Bloomberg) -- Kenyan coffee prices fell at an auction yesterday as buyers have enough stockpiles.

The average price fell 5.2 percent to $178.08 for a 50-kilogram (110-pound) bag from $187.80 a week earlier, the Nairobi Coffee Exchange said yesterday. The benchmark AA grade fell 12 percent to an average of $268.61 a bag, it said.

“There wasn’t much demand as people already have stocks,” Mansukh Shah, a coffee trader at Alanwood Ltd. said by phone from Nairobi. “The quality was quite good.”

Sales fell 59 percent to 1,740 bags worth $378,901, the exchange said. Supplies at the auction rose 0.9 percent to 22,941 bags from 22,731 bags, it said.

The following are details of yesterday’s auction in dollars per 50-kilogram bag:

Grade          Low            High          Average
AA             210            346            268.61
AB             195            244            228.93
C              188            227            208.73
E              297            297            297.00
HE             155            176            160.35
MH              48             48             48.00
ML              43             89             74.35
PB             238            272            259.99
SB              59             76             71.92
T               84            185            121.24
TT             205            229            216.95
UG             178            243            210.39
UG1             90            214            171.12
UG2             59            191            131.67

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

To contact the editors responsible for this story: Paul Richardson at pmrichardson@bloomberg.net Claudia Carpenter, John Deane

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