Foreign Coffee Buyers Drive Kenyan Prices to Three-Year High
- Roasters, buyers from Norway, Denmark, Germany, U.S. in Kenya
- Average price $280/50-kg bag at Nairobi auction this week
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Coffee roasters and buyers flocking to Kenya in their annual pilgrimage for the pick of the crop have driven average prices for the beans to the highest level in three years.
The cost of a 50-kilogram (110-pound) bag of AA grade coffee fetched $679 at an auction on Tuesday, the most since $751 at a sale last year, according to data supplied by the Nairobi Coffee Exchange. The average price has risen 50 percent since the season began on Oct. 10. to $280 per bag -- the highest since February 2015.