Kenyan coffee prices were weaker at Tuesday's auction on poorer international prices and quality, the Nairobi Coffee Exchange (NCE) said. The average price for all grades fell to $169.76 per 50-kg bag from $175.75 in the previous sale, the Nairobi Coffee Exchange (NCE) said. Top grades, however, received premiums.
"We are now receiving poorer qualities. Much of the good quality is gone and the prices that have gone up are for very special quality," said Daniel Mbithi, an NCE official. "New York has also come down by almost 6 cents." Mbithi added that some marketing agents had indicated that they still have more of the top quality beans that Kenya is famous for but that supply was dwindling.
Prices of Kenyan beans normally take their cue from the international market in New York. A total 30,652 60-kg bags were offered but only 11,825 were sold for a total $2.44 million. Kenya attracts premium prices for its gourmet beans, although it has a relatively small output. The very best AA beans fetched $351 per 50-kg bag at Tuesday's sale in the capital.
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