Coffee prices edged closer to $200 mark for the first time since the beginning of the crop year in October last year.
The good price was boosted by high demand from buyers on the back of a shortage that has seen the Nairobi Coffee Exchange (NCE) skip some weekly sales in order to accumulate more beans for trading.
Market data from the NCE shows the price in Tuesday’s sale hit $197 from $189 previously to mark one of the impressive performances.
The total value of all the coffee grades during the sale stood at $998,115 against $864,714 which was realised in the previous sale.
The auction resumed on Tuesday this week after receiving enough volumes to warrant trading.
Last week’s sale at the Coffee Exchange, which was to be held on Tuesday failed to take off for lack of enough beans to sample.
Kenya’s premium coffee-grade AA recorded a decline in the latest sale with a bag 50-kilo bag fetching $232 down from $243 in sale 31 held on August 29, 2023.
Grade AB, which is ranked second in terms of quality, recorded an increase in value with a bag fetching $212 up from $202 previously.
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