Coffee rakes in Sh394m as trade thrives at auction
Business
By
Boniface Gikandi
| Nov 29, 2023
The coffee market generated Sh394.9 million from the sale of 12,325 bags at the Nairobi Coffee Exchange (NCE) on Tuesday.
Two leading marketing agents – New Kenya Planters Co-operative Union (NKPCU) and privately owned Alliance Berries Limited – delivered 7,833 bags of the commodity as trading activities increased at the auction.
NKPCU trade generated US$1,156,261.20 from 5,324 bags of the commodity while Alliance Berries Limited delivered 2,509 bags that raised US$520,078.50.
In the trading activities, the marketing agents delivered 1,141 bags of AA class that yielded a total of US$285,815.45, 5,047 bags of AB that generated US$1,120,354.68 and 3,754 bags of C that yielded US$765,000.
Chairman of the Kenya Coffee Producers Association Peter Gikonyo said coffee was delivered to the auction platform from 492 cooperatives and estates.
READ MORE
Battle royale experienced at Interbank Golf event
Cheche: We have a big task at the World Cup next month
KCB's Karan Patel focused on clinching Burundi Rally
Africa Paves the Way for a Greener Future: Global Conference Highlights Ecosystem Revitalisation
Media urged to go digital to tap shifting consumer trends
Jail term, hefty fine for pastors with unregistered churches
Ambitious Awuor eager to leave a mark on her World Cup debut
Experts warn of bureaucratic hurdles in new movable property bill
Ruto hails Parliament as his key partner
Kenya Navy golfer Mochanga overcomes all odds to take command at Sea-Link Mombasa Course
“In the weekly sale, those that delivered are United Eastern 229 bags, Kipkelion 1,224 bags, Mt. Elgon 892 bags, Meru County 592 bags and Kinya 1,581 bags,” said Gikonyo.
Kigumo MP Joseph Munyoro, who is a member of the Coffee and Tea Parliamentary Group, appreciated Mt. Kenya farmers who delivered their produce at the auction.
“Thanga-ini Cooperative from Kigumo has taken the lead to enjoy the benefits of the auction,” said Mr Munyoro.
- Cyclone Hidaya: Settlers on Kenyan coast ordered to evacuate immediately
- KCPE results to be released by November 30