The top price for Kenya's benchmark AA coffee grade fell to $222 per 50-kg bag at this week's auction from $367 per bag in the previous sale, the Nairobi Coffee Exchange said. The AA grade sold at $222-213 per bag compared with $367-$270 at last week's sale.
The top price for AA peaked at a record $702 per bag in late March but has slipped thereafter as quality declined. Kenya is a relatively small coffee producer globally, but its speciality beans are highly sought after for blending with beans from other countries.
Overall, the average price for all Kenyan coffee grades fell to $187.56 per bag from $290.68 per bag previously. Grade AB sold went for $335-$140 per bag, down from $344-$250 last week. NCE said 19,877 bags were offered for sale, with 2,640 bags sold, for a total of $605,271. At last week's sale, 20,123 bags were offered for sale, with 5,024 sold for $1.78 million.