Data from the Nairobi Coffee Exchange (NCE) shows that the value of Kenyan coffee has continued to drop despite high quality beans.
According to the NCE, the dip in the value of the commodity has been on account of low international prices.
A 50 Kg bag of coffee is selling at an average price of 19,500 shillings at the auction, compared to last week’s price of 22,927 shillings.
According to NCE Chief executive officer Daniel Mbithi, prices at the New York Exchange have a direct impact on the value of Kenya’s coffee and with prices falling there, Kenya’s coffee value is falling.
At the New York Exchange, the price of the commodity has dropped to 98 cents per pound of the commodity from last year’s price of 140 cents.
Kenya’s main grade coffee recorded a marginal decline in value from the previous sale with top most grade AA selling at 30,000 shillings from 30,500 shillings for a 50 Kg bag.
High quality beans of the commodity have been going into the auction from farms in the central region following the onset of the long crop season.