By Henry Kinyua
Welcome to This Week’s Edition of the HK Coffee Market Summary: Sale 4 Provisional Reports.
With Monday being a public holiday, the usual market day on Tuesday was rescheduled. Sale 4 took place on Wednesday, October 23rd, 2024 at the Nairobi Coffee Exchange trading floor and through online trading platforms, concluding successfully.
Key Highlights
Volumes Traded: A total of 9,826 bags (609,873 kgs) were sold at an average price of $252 per 50 kg bag.
Average Price: This equates to Ksh 100 per kilo of cherry at the trading floor.
Total Value: The total value of coffee traded was $3,078,972, or Ksh 391 million.
Highest Price: The highest price recorded in this sale was $326 per bag for 6 bags (404 kgs) of grade AA from MUNANI Factory – Code XBB 64F01, part of Mikumbune Farmers Cooperative Society in Meru County.
Confirmed Sales: By the close of business, 2,789 bags, or 28% of the traded volume, had been confirmed.
Price Above $300: A total of 629 bags, or 6% of the traded volume, fetched a price of $300 or more.
Grades AA and AB: Grades AA and AB accounted for 5,791 bags, representing 59% of the total volume traded.
Brokers: Nine brokers participated in the trade. New KPCU presented the highest number of bags, followed by Alliance Berries. Other brokers included Meru County, United Eastern, Kipkelion, KCCE, Kirinyaga Slopes, and Murang’a County.
Buyers: The coffee was purchased by 14 buyers, with Ibero Kenya leading the pack.
Lowest Purchase: BEKAS Systems Ltd made the smallest purchase, acquiring 3 bags (243 kgs) of grade AB at $88 from Mwanga Farmers Cooperative Society (BULK) – Code XBC33.
More detailed information on the factories that traded will be provided by the end of the week, once the Final Transaction Listing is issued by the Nairobi Coffee Exchange.
