The price of coffee at the auction rebounded in the latest sale on the back of quality beans that are now streaming in the market.
The market report from the Nairobi Coffee Exchange (NCE) indicates a 50-kilogramme bag of the beverage traded at $188 (KES 23,095), up from $180 (KES 22,113) in the previous sale.
The latest prices come as a boost to farmers who, in the last two months, have been witnessing depressed prices from the sale of their produce.
“The prices went up during the sale because of quality beans that we are now getting from farmers,” said Daniel Mbithi, chief executive officer of NCE.
The auction is now getting the new crop from central Kenya, which is the main produce for the coffee season in the country and normally gets to the market at the beginning of December.
Previously, the sale has been receiving crops from eastern and parts of western Kenya since the market resumed in August after a one-month recess.
However, there is a likelihood of prices not being as impressive as in the previous crop year because of a rebound in production in Brazil- the world’s largest grower.
Kenya had reaped big from low production in Brazil last year after a crop failure that was occasioned by bad weather, impacting negatively on the yields.
