By Henry Kinyua
Welcome to this week’s edition of the HK Coffee Market Summary: Sale 35.
Out of an abundance of caution, the Nairobi Coffee Exchange moved the trading day from Tuesday, July 2nd to Wednesday, July 3rd due to the anti-finance bill protests in Nairobi.
Sale 35 took place on Wednesday, July 3rd, 2024. As usual, online trading also took place, and the sale was completed successfully.
Key Highlights
• Volumes Traded: 19,031 bags were bought at an average price of $204 per 50 kg bag.
• Average Price: Equivalent to Ksh 80 per kilo of cherry.
• Total Value: The total value of coffee traded was $4,835,821 or Ksh 619 million.
• Highest Price: The highest price paid for coffee in this trade was $326 per bag for 39 bags of grade AA from Maganjo coffee factory, part of Rumukia Farmers Cooperative in Nyeri County.
It was presented to the auction by New KPCU and purchased by Taylor Winch (Coffee) Limited.
• Price Above $300: A total of 192 bags, or 1% of the volume traded, attracted a price of $300 and above.
• Grades AA and AB: 9,240 bags, or 48% of the volume traded, were grades AA and AB.
• Brokers: Seven brokers, led by Alliance Berries, participated in the trade.
• Buyers: All coffee traded was bought by 21 buyers, led by Ibero Kenya.
The auction is going on a three-week recess and will resume on August 6th, 2024.
