From Origin

Coffee prices dip by 13pc on low quality

From www.mediamaxnetwork.co.ke

Prices of coffee and tea have declined in a fortnight owing to low quality and decline in international prices. The price of the export commodities went down by 2.6 per cent and 13.3 per cent in last week’s auctions carried out at Mombasa and Nairobi respectively.

Average price at the Nairobi Coffee Exchange (NCE) decreased to Sh22,393 ($221.12) per 50-kilogramme bag during the auction from Sh25, 846 ($255.21) recorded in the previous week, according to a market report from the bourse.

NCE chief executive officer Daniel Mbithi said quality of coffee has been declining prompting the price drop, adding that most of coffee offered for sale at the NCE did not attain the reserve price.

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