Nyeri Coffee Fetches Record Ksh1,700 a Kilo at the Auction

Nyeri coffee demonstrated its unparalleled quality in this week’s auction, securing the top position with an outstanding kilo of the highest grade commanding an impressive price of Ksh1,700 ($12) – the highest value in the 2023/24 season.

Particularly of note was the performance of Gichathaini Factory’s coffee from Nyeri County, as a 50-kilogramme bag fetched an exceptional $600 (Ksh85,200) during the sale.

Gichathaini Factory, a key player in the auction, presented 42 bags of its premium produce, contributing significantly to the overall proceeds of Ksh3.5 million ($25,000) in this week’s Tuesday sale.

The value from Gichathaini alone constituted 2.5 percent of the total $1 million generated by grade AA coffee at the auction.

According to the market report by the Nairobi Coffee Exchange, the pinnacle of prices for the 2023-24 season was achieved during the 16th sale held on Tuesday.

“The best price for Season 2023-24 was Achieved during sale 16. 42 bags of AA fetched $600 per 50kg bag translating to a gross of $12 per kilo,” said NCE in the market report.

Despite a marginal decline, this week’s auction maintained a favourable range, recording an average price of $244 compared to the previous sale’s $247.

The coffee market, demonstrating resilience and positive trends, continues to navigate fluctuations in individual price points.

Projections in the market point towards a continual tightening of Robusta coffee supplies. Reports suggest that Vietnamese farmers, renowned leaders in Robusta production, strategically withhold their produce, anticipating more favorable prices in the near future.

gandae@businessdayafrica.org