The price of coffee shot up 10 per cent in this week’s trading at the Nairobi Coffee Exchange (NEC) after a 14 per cent dip last week.
The increase was attributed to high quality beans that farmers and cooperatives supplied at the auction. In Tuesday’s auction, a 50 kilogramme (kg) bag was sold at Sh24,990 on average compared to Sh22,644 last week.
NCE chief executive Daniel Mbithi said the general demand for good quality coffee was evident with some lots selling at over Sh51,000 for the 50 kg bag.
“The auction witnessed increased demand for good quality beans and this is the main reason why the prices went up this week,” said Mr Mbithi.
The auction has been enjoying good prices since last month as the much-sought after high quality beans from central Kenya started trickling into the market. Harvesting of the main crop from the eastern part of the country came to an end last November.