By Henry Kinyua
Welcome to this week’s edition of the HK Coffee Market Summary: Sale 1 – The Season Opener for 2024/2025 Season
Sale 1 took place on Tuesday, October 1st, 2024, at the Nairobi Coffee Exchange trading floor as usual, and online trading platforms and was completed successfully.
Key Highlights
- Volumes Traded: 11,480 bags were bought at an average price of $256 per 50 kg bag.
- Average Price: Equivalent to Kshs 100 per kilo of cherry.
- Total Value: The total value of coffee traded was $3,656,166 or Kshs 468 million.
- Highest Price: The highest price paid for coffee in this trade was $307 per bag for 20 bags (1,211 kgs) of grade AA from KIKAMBUANI FACTORY – Code XBE0106F02, part of Mbilini Farmers’ Co-operative Society in Machakos County. The coffee was purchased by Sodhi Trading but was not confirmed.
- Confirmed: The number of bags confirmed by close of business was 2,493 or 22% of the volumes traded.
- Price Above $300: A total of 134 bags, or 1% of the volume traded, attracted a price of $300 and above.
- Grades AA and AB: 7, 000 bags, or 61% of the volumes traded, were grades AA and AB.
- Brokers: Eleven brokers participated in the trade: New KPCU, Alliance Berries, , Meru Union, KCCEMA, Kiambu Coffee,Kinya , United Eastern Kenya Coffee, Murang’a County Coffee Dealers, Minessota, Kipkelion and the new kid on the block Coffee Estates Bourgeosie Brokers Limited. This brokerage firm is largely targeting coffees grown by estates.
- Buyers: All coffee traded was bought by 13 buyers, led by Louis Dreyfus. ROCKBERN COFFEE GROUP bought the lowest amount of coffee, purchasing 7 bags (420 kgs) of grade C at $206 from MUKUYUNI – Code XBE28F01 from Machakos County and from GITAMWA Farm code AB.0089
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
