From Origin

Coffee price up by Sh200, hits highest mark in 2018

The price of coffee continued on an upward trajectory this week rising marginally by Sh200 for a 50-kilo bag, the highest price to be achieved this year.

A market report by the Nairobi Coffee Exchange (NCE) shows that a 50 kilogramme bag was on average sold at Sh24,614 up from Sh24,411of previous trading.

The good price registered is attributed to better quality beans from central Kenya coming to the market following delays triggered by wet weather.

The NCE last week said the prices were expected to rise in the coming auctions as more good beans from the region continue streaming into the auction in the next two months.

“We expect the price to firm up going forward because we are getting good crop from farmers,” said NCE chief executive Daniel Mbithi.

The value of Kenyan coffee dropped by Sh422 million in the year to December 2017 as the low-quality beans lowered the price of the beverage.

A report indicated that the value of the crop dropped to Sh2.2 billion last year from Sh2.6 billion.

 

By By GERALD ANDAE

 

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