• April 18, 2024
  • Last Update April 18, 2024 6:55 PM
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Stakeholders hails impressive coffee returns netted in the NCE

Stakeholders hails impressive coffee returns netted in the NCE

Murang’a,

Thursday, April 4, 2024

KNA by Bernard Munyao

A section of stakeholders have praised impressive returns fetched through coffee auctioning at the Nairobi Coffee Exchange (NCE) this week.

In this week, 33, 479 bags of coffee were sold in the NCE realizing Sh. 1.3 billion, a highest figure which has been earned in the recent past.

During the auctioning Guama factory of Kirinyaga County earned Sh. 4.6 million after selling 71 bags of grade AA coffee.

In an interview via a phone, NCE acting Chief Executive Officer Ms Lisper Ndung’u told KNA that Alliance Berries Limited sold 8,562 at Sh. 383.4 million followed by Kirinyaga Slopes with 8,379 bags at Sh. 327.1 and the New KPCU earning Sh. 280.4 million after selling 6,692 bags of coffee.

Ms Ndungu said out of the 33, 470 bags that were auctioned, 68 percent (22,841) of the bags were premier grades of AA and AB.

“Nine marketing agents this week presented more coffee as compared to the previous weeks, an indication that farmers in cooperatives and estates have trust in the auction system,” said the CEO.

Ms Ndungu divulged that at the dealers’ category, six leading buyers led by C- Dormans bought 84 percent of the coffee at the auction.

“C-Dorman bought 7,754 bags for Sh. 335.8 million, followed by Kenya of which bought 7,213 bags at Sh. 307.2 million, and Ibero Kenya purchased 6,872 bags at Sh. 256.7 million.” She added.

On his part, Kigumo MP Joseph Munyoro termed the high returns as good news to farmers who for a long time have been getting meager returns from their produce.

He noted with increased returns, farmers will work to increase production as well as improve their livelihoods.

“Being a member of the Coffee Tea Parliamentary Association (COTEPA) I express my satisfaction over participation of the farmers in the auction market. I urge them to concentrate on increased production especially during this rainy season,” he added.

Kenya Coffee Producers Association Chairman Peter Gikonyo called on their growers to nurture their coffee bushes for more production and help them access better markets.

“The buyers are interested in a specific taste and quality and it’s upon farmers to strive to produce the needed quality which can fetch a high amount of money,” he stated.

A Coffee Marketing expert Henry Kinyua noted high quality coffee has continued to attract international buyers to the Kenyan coffee as the average sale of a 50 kilo bag was at Sh32, 226 compared to Sh.31, 047 achieved last week.

Courtesy; KNA

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