Kenya is among nations advocating for a global minimum price for coffee to shield farmers from market fluctuations.

Cooperative Cabinet Secretary Simon Chelugui disclosed that Kenya, in collaboration with Colombia, is actively championing this initiative through joint coffee ventures.

These collaborative efforts will extend to sharing facilities at crucial international coffee markets.

The worldwide coffee trade boasts a valuation of $625 billion, with a mere 10 percent of total sales reaching farmers.

“Kenya intends to forge alliances with various coffee-producing countries to bolster farmers’ incomes to advocate for a standardized minimum price,” said CS Chelugui on Monday.

The Cooperative Cabinet Secretary highlighted Colombia’s endorsement of the minimum price proposal, and both nations plan to garner additional support from other countries through a series of agreements to be finalised in the coming three months.

As part of the collaborative efforts, Kenya and Colombia aim to establish common user facilities, including warehouses in strategic coffee markets, to reduce operational costs.

Additionally, the two countries will engage in the exchange of vital coffee research information. Plans are also in progress to broaden participation in the Nairobi Coffee Exchange by welcoming traders from other nations.

Furthermore, the Nairobi Coffee Exchange is slated for substantial digitisation of its systems as a way of making them up to date with the evolving needs of online trading.