Kenya's coffee auction fetched Sh896 million from 15,906 bags, with top-quality beans selling for up to USD 461 per 50kg bag. [Courtesy]
The auction at the Nairobi Coffee Exchange (NCE) witnessed reduced volume as the harvest season comes to an end in some parts of coffee-growing regions.
A total of 15,906 bags weighing 984,630 kilograms were traded at the auction, valued at Sh896 million at sale number 37, as compared to last week's auction, in which 17,315 bags weighing 1,067,915 kilograms valued at Sh949 million were traded from 961 lots and 13 marketing agents.
According to the NCE report, the auction recorded an average price of USD 352 (Sh45,984) per 50kg bag, equivalent to USD 7.04 per kg of clean coffee, translating to approximately Sh910 per kg.
Based on the industry benchmark of 6 kg of cherry to 1 kg of clean coffee, this represents approximately Sh152 per kg of cherry before milling, marketing and cooperative society deductions.
According to grade performance, Grade AB remained the dominant grade, accounting for approximately 39% of the total volume and achieving an average price of USD 391(Sh50,618) per 50kg bag.
Grade C accounted for 28% of the volume at an average of USD 349 (Sh45,181) per bag, while AA represented 8% and averaged USD 401 (Sh51,913) per bag.
Lower grades recorded comparatively lower prices, with T accounting for 8% of the volume at USD 228 per bag, UG2 representing 5% at USD 243, while ML recorded an average of USD 123 per bag.