[Photo: The Standard]
A report by the Nairobi Coffee Exchange (NCE) shows that weekly coffee prices declined by 28.9 percent in January and February 2022.
The maximum price equally decreased from 454 dollars to 397 dollars for a 50 KG bag of clean coffee.
The report shows that the average price decreased to 245.45 dollars this week, from 345.54 dollars registered on sales conducted on 5th of January 2022.
Comparison between the two weeks shows that the value of coffee traded this week – recorded a slight decrease to 8.9 million dollars compared to 9.4 million dollars recorded in the 2nd week of January.
This is as the weekly coffee auction is currently getting high-quality beans from the main crop season recorded in November and December 2021, that has seen an increase in premium grades from Central Kenya.
“We are getting high-quality coffee from the farmers and the world prices are still good. I cannot actually tell the reason why there was a decline this week,” said NCE CEO Daniel Mbithi.
In 2021, coffee buyers enjoyed relatively good prices with a 50 KG bag trading above 300 dollars for the better part of the year.
A newsmaker, reporter and anchor at Pearl Radio, Ndalilah Sharon is witty and savvy.
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