By Henry Kinyua
Welcome to this week’s edition of the HK Coffee Market Summary: Sale 2
Sale 2 took place on Tuesday, October 10th, 2024, at the Nairobi Coffee Exchange trading floor as usual, and online trading platforms and was completed successfully.
Key Highlights
• Volumes Traded: 12,313 bags were bought at an average price of $242 per 50 kg bag.
• Average Price: Equivalent to Ksh 95 per kilo of cherry.
• Total Value: The total value of coffee traded was $ 3,692,564 or Kshs 473 million.
• Highest Price: The highest price paid for coffee in this trade was $425 per bag for 7 bags (420 kgs.) of grade PB from KIRIGA FARM – Code AB 0001
• Confirmed: The number of bags confirmed by close of business was 1,266 or 10% of the volumes traded.
• Price Above $300: A total of 181 bags, or 1% of the volume traded, attracted a price of $300 and above.
• Grades AA and AB: 8344 bags, or 68% of the volume traded, were grades AA and AB.
• Brokers: Nine brokers participated in the trade: New KPCU, Alliance Berries, Kirinyaga Slopes, Meru Union, KCCEMA, Kiambu Coffee, United Eastern Kenya Coffee, Minessota and Kipkelion.
• Buyers: All coffee traded was bought by 17 buyers, led by Louis Dreyfus. WAZIRI COFFEE & TEA LIMITED bought the lowest amount of coffee, purchasing 5 bags (309 kgs.) of grade C at $257 from NG’ONYI FACTORY – Code XBB 05F05 part of KIANJURI FCS in Meru County
By the end of the week, we will provide more details on which factories traded once the Final Transaction Listing is provided by the Nairobi Coffee Exchange.
