Kenya’s coffee prices surged 17 percent in this week’s sale, attaining levels unseen since the inception of the crop year in October last year.
Market statistics provided by the Nairobi Coffee Exchange (NCE) illustrate a substantial escalation, as a 50-kilo bag of the commodity soared to $250 in the latest trading session, up from the previous week’s $212.
The uptick in prices translated into a laudable boost in the overall value of sales, reaching an impressive $5.1 million.
This sustained upward trajectory throughout the crop year comes as a boon for coffee farmers, underscoring the positive impact on their livelihoods.
The driving force behind this bullish trend can be attributed to robust demand from buyers, fueled by a global market shortage that has been further intensified by stockpiling activities undertaken by some influential producers.
Projections indicate a persistent tightening of Robusta coffee supplies, with reports suggesting that Vietnamese farmers, who lead in Robusta production, are strategically withholding their produce in anticipation of more favorable prices.
Kenya’s premier coffee-grade AA witnessed a notable spike in value. A 50-kilo bag of this high-quality coffee now commands $320, compared to the previous sale’s $269.
Similarly, Grade AB, the second-tier in terms of quality, experienced an uptick, fetching $254 per bag, up from the preceding $217.