Home ECONOMY Coffee Auction Records 27% Increase in Prices on Resumption

Coffee Auction Records 27% Increase in Prices on Resumption

by biasharadigest

Prices at the Nairobi Coffee Exchange (NCE) weekly coffee auction recorded a 27% increase on resumption of trading after a two-month recess.

During the first sale after the resumption of the coffee auction, coffee sold at KSh27,000 for a 50-kilogramme bag, up from KSh21,276 in the last sale before the recess.

However, the number of bags offered for sale this week dropped from 13,060 in the previous sale to 8,144, on the back of farmers struggling with shortages as most produce is yet to get to the market due to weather challenges.

Meanwhile, the Capital Markets Authority has issued coffee brokerage licenses to 5 coffee brokers, allowing the brokers to trade coffee at the Nairobi Coffee Exchange (NCE) with effect from 1st July 2021.

Meru County Coffee Marketing Agency Limited has been granted a full coffee broker license while other applicants; Kipkelion Brokerage Company Limited, Murang’a County Coffee Dealers Company, Mt. Elgon Coffee Marketing Agency Limited and United Eastern Kenya Coffee Marketing Company Limited have been granted conditional licences, with the requirement to comply with the Coffee Exchange Regulations within the next three months.

See Also:

CMA Issues First Set of Licenses to 5 Coffee Brokers

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