This archive report was first published on 4 November 2019.
On November 4, 2019, Kenyan coffee prices continued their upward trend, rising by seven percent due to the presence of high-quality beans and stable prices at the New York Coffee Exchange.
A report by the Nairobi Coffee Exchange (NCE) revealed that the average price of a 50-kilogramme bag of coffee increased to Sh13,802, up from Sh12,938 in the previous sale.
The NCE attributed the rise in demand to the quality coffee available at the auction over the past three weeks, which positively impacted the price.
Meanwhile, the New York price of coffee also saw a significant increase, rising from US$0.95 per pound last week to around US$1.04 per pound in the latest sale.
Kenya sells over 95 percent of its coffee in the international market, which determines the value of the crop locally.
The latest sale marked the third trading of the new coffee year, which started last month with expectations of a good crop season.
However, the NCE cautioned that the trend may not be sustainable in the long term, as prices remain volatile in the international market and a forecasted glut from leading producers is expected to impact earnings.
