The top price of Kenya's benchmark coffee at auction fell to $294 per 50-kg bag from $315 at the last sale two weeks ago, the Nairobi Coffee Exchange (NCE) said on Wednesday. Kenya is a small coffee producer, but its speciality coffee is famous for its quality and is in demand from roasters who blend it with other beans. NCE said Grade AA fetched $310-$139 per bag versus $315-$251 at the last sale two weeks ago. Grade AB sold at $223-$142 per bag, compared with $228-$124 previously.
NCE said 18,710 bags of coffee were offered, with 4,417 bags sold at an average price of $182.06, fetching $985,974. At the previous auction on November 5, 14,828 bags of coffee were offered, with 2,921 bags sold at an average price of $173.34, fetching $619,615. AA grade coffee was selling at over $500 per bag in late March and the start of April, when sales tend to peak in the harvest cycle. The grade refers to size and density, rather than bean quality.