This archive report was first published on 13 September 2019.
Kenya's coffee earnings have taken a significant hit, plummeting by KSh3 billion in the 11 months leading up to August 2019, according to the Nairobi Coffee Exchange market report published on September 13, 2019.
The earnings, which stood at KSh11 billion by the end of August, marked a 27% decrease compared to the KSh14 billion earned in the same period the previous year.
Nairobi Coffee Exchange Chief Executive Officer Daniel Mbithi attributed the low earnings to the consistent trend of low prices in New York, which was largely due to the lowering of prices of New York Terminal to a low of 86 cents per pound in 2019, down from a high of 120 cents per pound the previous year.
Efforts by the coffee directorate to increase local consumption and reduce reliance on international markets have been ongoing, with Kenya being renowned for producing some of the world's best coffee despite a decline in production over the past few years due to poor management and a lack of interest from farmers.
