This archive report was first published on 6 December 2019.
On December 6, 2019, the Nairobi Coffee Exchange (NCE) was forced to cancel its coffee auction due to low supply caused by heavy rainfall in central Kenya.
The main season crop from central Kenya was expected to be received by the NCE, but the rains interfered with the drying of the produce, resulting in a shortage of coffee in the market.
According to NCE Chief Executive Daniel Mbithi, the auction was cancelled because there were low volumes for trading.
As a result, the price of coffee increased, with a 50-kilo bag fetching Sh19,004 last week, a 30 percent increase from the previous sale.
The good prices are expected to hold for some time, as the main season coffee from central Kenya is expected at the auction in January.
International prices have also rallied, with the value rising to over US$1.10 per pound, which has a positive impact on the value of the local crop.
