NAIROBI, April 30 The top price of Kenya's
benchmark coffee grade AA dropped to $318 per 50-kg bag at
auction from $433 per bag at last week's sale, the Nairobi
Coffee Exchange (NCE) said on Tuesday.
Although Kenya is a relatively small producer, its high
quality beans are valued by roasters for blending with those
from other countries.
A bag of grade AA COF-AA-KE sold for $318-$176, compared
with $433-$219 at last week's sale, while a bag of grade AB
COF-AB-KE fetched $252-$131 per bag, from $244-$123 at the
previous auction, the exchange said.
It was not immediately clear what pushed the price of grade
AA coffee lower. Calls to the Kenya Coffee Producers and Traders
Association, which sends out the NCE's report, went unanswered.
Some 21,453 bags of coffee were offered for sale and only
5,257 bags were bought. Last week, 21,487 bags were offered for
sale, with 7,054 sold.
The beans fetched $906,251 with an average price of $141.35
per bag, the exchange said. Last week, beans sold at the auction
fetched a total of $1.36 million with an average price of
$157.61 per bag.
GRADE THIS SALE ($) AVERAGE PRICE ($) PREVIOUS SALE ($)
AA 318-176 264.28 433-219
AB 252-131 178.09 244-123
C 169-120 141.17 172-81
PB 206-75 172.76 250-139
T 127-55 120.73 137-80
TT 155-56 129.05 178-76
(Reporting by Richard Lough; editing by James Jukwey)