The Nairobi Coffee Exchange weekly auctions resumed today after 4 weeks Christmas recess break.
We are currently receiving the main crop coffee mainly from the central region of Mt. Kenya. It is anticipated that we shall have about 25,000 bags (60kg) on offer per week for the next 2 or 3 months.
Despite the low global prices at ICE New York caused by the favorable weather forecast in Brazil, the strong US dollar leading to a weakening of the Brazilian currency, the weak Chinese economic data and probably the Middle East political tension, we are witnessing relatively encouraging prices well above that benchmark.
By Daniel Mbithi