By Henry Kinyua
Welcome to this week’s Edition of the HK Coffee Market Summary: Sale 5 Provisional Reports.
After last week’s adjusted trading day due to a public holiday, this week returned to the usual schedule, with Sale 5 taking place on Tuesday, October 29th 2024 at the Nairobi Coffee Exchange trading floor and through online trading platforms, concluding successfully.
Key Highlights
Volumes Traded: A total of 11,864 bags (732,243 kgs) were sold at an average price of $264 per 50 kg bag.
Average Price: This translates to Ksh 105 per kilo of cherry at the trading floor.Total Value: The total value of coffee traded was $3,870,970, or Ksh 499 million.
Highest Price: The highest price in this sale was $333 per bag for two lots: 66 bags (3,979 kgs) of grade AA from KAUKISWA Factory – Code XBE 019F02, part of Kambusu FCS in Machakos County, and 51 bags (3,068 kgs) from MWITHU Estate – Code BA034 in Meru County.
Confirmed Sales: By the close of business, 2,827 bags, or 24% of the traded volume had been confirmed.
Price Above $300: A total of 1,616 bags, or 14% of the traded volume, fetched a price of $300 or more.
Grades AA and AB: Grades AA and AB accounted for 7,924 bags, representing 67% of the total traded volume.
Brokers: Ten brokers, led by Alliance Berries, participated in the trade. Other brokers included New KPCU, Minnesota Marketers, KCCE, Meru Union, Kipkelion, Kiambu Coffee, Kirinyaga Slopes, CEBBA, and Murang’a County.
Buyers: Coffee was purchased by 13 buyers, with Louis Dreyfus leading.
Lowest Purchase: First Cup Coffee made the smallest purchase, acquiring 79 bags from various growers.
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
