Prices of Kenyan coffee rose at Tuesday's auction and traders expect the quality at the weekly sale to improve further as farmers from a key growing region release their crop to millers.
The Nairobi Coffee Exchange (NCE) said in a weekly auction report that 22,898 60-kg bags were on offer and 10,848 were sold, while the average price of a 50-kg bag rose to $125.40 from $117.14 last week. "This week's auction saw prices improving slightly over last week whilst closely following quality," a market report by Ransley Coffee Company (RCC) said. "There was a mixed catalogue on offer with strong demand for any better cupping types."
The price for top AA grade ranged between $267 and $171 per 50-kg bag compared with $230-$156 at the previous sale. The price for AB grade was at $238-121 per bag from $193-$120 last week. Another exporter said just a handful of lots fetched the high prices.
He said the market expected the quality of beans presented at the auction in coming weeks to improve as farmers - mainly from Nyeri, a growing region around Mount Kenya - were now releasing their crop to millers.
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