This archive report was first published on 25 August 2019.
On August 25, 2019, the coffee price decline resumed after a one-month recess, with a 50-kilogramme bag fetching Sh10,506, down from Sh10,609.
The Nairobi Coffee Exchange (NCE) reported a marginal decline in coffee prices, citing a decline in prices at the New York Coffee Exchange.
According to NCE, the price at New York has fallen to a low of 95 cents per pound as of last week from a previous high of 106 cents.
Kenya sells over 95 percent of its coffee to the international market, which determines the value of the crop locally, marginally affecting the value of the local commodity, said NCE chief executive officer Daniel Mbithi.
Low-quality coffee coupled with depressed international prices (90 cents per pound) of the produce in the world market pushed down the value of coffee at the auction in the last three months.
Coffee earnings dropped by Sh3 billion in the seven months to July, with the crop earning the country Sh10.5 billion at the end of last month, down from Sh13.5 billion that was realised in the same period last year, a 21 percent decline.
