The top price of the benchmark Kenyan coffee grade AA rose to $600 per 50 kg bag at auction this week from $491 at the previous sale, the Nairobi Coffee Exchange said on Wednesday. Although the east African nation is a small producer compared with other regional growers such as Ethiopia and Uganda, its speciality beans are known for their high quality and are sought after for blending.
Grade AA fetched $224-$600 per bag at the sale that was held on Tuesday compared with $257-$491 at last week's auction, the exchange said in a report. Grade AB went for $211-$521 per bag, up from $177-$433 at the previous auction. Some 23,288 bags were offered for sale at the auction, the coffee exchange said, with only 8,341 being bought at a total value of just over $3 million. Regulator Coffee Board of Kenya said in November it saw coffee output rising 6 percent in the October 2011-September 2012 crop year to 54,000 tonnes.