By Henry Kinyua
Welcome to this week’s edition of the HK Codffee Market Summary: Sale 38
Sale 38 took place on Tuesday August 20th 2024 at the Nairobi Coffee Exchange trading floor as usual and on online trading platforms and was completed successfully.
Key Highlights
- Volumes Traded: 12,102 bags were bought at an average price of $243 per 50 kg bag.
- Average Price: Equivalent to Kshs 97 per kilo of cherry.
- Total Value: The total value of coffee traded was $3,616,046 or Kshs 470 million.
- Highest Price: The highest price paid for coffee in this trade was $373 per bag for 12 bags (756kgs) of grade AA from NKANGANI – factory Code XBC027, part of NEW NKANGANI FCS LTD in Tharaka Nithi County. The offer was provided by C. Dormans but was not confirmed meaning it was lower than farmers reserve price. We wait for negotiations to establish if the sale will be confirmed.
- Confirmed: The number of bags confirmed by close of business were 2583 or 21% of the volumes that was traded.
- Price Above $300: A total of 328 bags, or 3% of the volume traded, attracted a price of $300 and above.
- Grades AA and AB: 7939bags, or 66% of the volume traded, were grades AA and AB.
- Brokers: Eight brokers, led by New KPCU, participated in the trade.
- Buyers: All coffee traded was bought by 17 buyers, led by Ibero Kenya. Kyandu Trading Company bought the lowest amount of coffee buying 2 bags (157Kgs) of grade TT at $149 per bag.
