By Henry Kinyua
Welcome to this week’s edition of the HK Coffee Market Summary: Sale 40.
Sale 40 took place on Tuesday September 3rd 2024 at the Nairobi Coffee Exchange trading floor as usual and online trading platforms was completed successfully.
Key Highlights
• Volumes Traded: 11,944 bags were bought at an average price of $240 per 50 kg bag.
• Average Price: Equivalent to Kshs 96 per kilo of cherry.
• Total Value: The total value of coffees traded was $3,527,556 or Kshs 459 million.
• Highest Price: The highest price paid for coffee in this trade was $344 per bag for 26 bags (1,626kgs) and 40 bags (2,402Kgs) of grade AA from GITARE – factory Code XAA27F02 and GICHUKA factory code XAA27F03 respectively, both part of KIMARATIA FCS LTD in Kiambu County. The coffee was purchased by Taylor Winch (Coffee) Limited and was confirmed.
• Confirmed: The number of bags confirmed by close of business were 1109 or 9% of the volumes that was traded.
• Price Above $300: A total of 148 bags, or 3% of the volume traded, attracted a price of $300 and above.
• Grades AA and AB: 8273bags, or 69% of the volume traded, were grades AA and AB.
• Brokers: 10 brokers including Kirinyaga Slopes, Alliance Berries, KCCE Ltd, Meru County Agency, Minnesota Coffee Marketing Ltd and United Eastern Kenya Coffee Ltd participated in the trade.
• Buyers: All coffee traded was bought by 17 buyers, led by Ibero. Africoff Trading Ltd bought the lowest amount of coffee buying 4 bags (243Kgs) of grade AA from MUGUMO Farm at $203 per bag. The sale was not confirmed. By the end of the week we will get into details on which factories participated once coffee has been traded and the Final Transaction Listing provided by the Nairobi Coffee Exchange.
