By Henry Kinyua
Welcome to This Week’s Edition of the HK Coffee Market Summary: Sale 3.
Sale 3 took place on Tuesday, October 15th, 2024 at the Nairobi Coffee Exchange trading floor, as well as through online trading platforms, concluding successfully.
Key Highlights
• Volumes Traded: A total of 9,030 bags (562,266 kgs) were sold at an average price of $242 per 50 kg bag.
• Average Price: This is equivalent to Kshs 100 per kilo of cherry at the trading floor.
• Total Value: The total value of the coffee traded was $2,881,561, or Kshs 366 million.
• Highest Price: The highest price paid for coffee in this sale was $ 316 per bag for 56 bags (3,391 kgs) of grade AA from Mbee Factory – Code XBE 006F04, part of New Mitaboni FCS in Machakos County.
• Confirmed Sales: By the close of business, 2,631 bags or 29% of the volumes traded, had been confirmed.
• Price Above $300: A total of 550 bags, or 6% of the volume traded, fetched a price of $300 or more.
• Grades AA and AB: Grades AA and AB accounted for 5,170 bags, representing 57% of the total volume traded.
• Brokers: Ten brokers participated in this sale: New KPCU, Alliance Berries, Kirinyaga Slopes, Meru Union, KCCEMA, Kiambu Coffee, United Eastern Kenya Coffee, Minnesota CEBBA, Baringo Kawa, and Kipkelion.
• Buyers: The coffee was purchased by 14 buyers, with Ibero Kenya leading the pack.
• Lowest Purchase: JOSRA Coffee made the smallest purchase, acquiring 3 bags (238 kgs) of grade PB at $271 from Utangwa Factory – Code XBE 04F03, part of Kikima FCS in Machakos County.
More detailed information on which factories traded will be provided by the end of the week, once the Final Transaction Listing is issued by the Nairobi Coffee Exchange
