By Henry Kinyua
Welcome to this week’s edition of the HK Coffee Market Summary, Sale Number 30.
This week marks the 30th sale of the 2023/2024 Coffee Year, which took place on Tuesday, May 21st, 2024, inside the NCE trading floor and on online platforms.
A total of 21,311 bags, or 1,308,310 kgs of coffee were traded at the auction.
The value of the coffee traded amounted to $5,389,412, or around Kshs 690M. This represents a slight decrease from last week’s Sale 29, where 21,867 bags or 1,347,092 kgs of coffee were traded at the auction.
The average price per bag was $206 an increase from $194 that was achieved last week. Also to put it in context, sale 30 last year took place on August 15th, 2023 and 3,816 bags were traded at an average price of $183 per bag.
Brokers
Eight brokers participated in the auction with Alliance trading the highest volume at 33% followed by Kirinyaga Slopes at 29%. New KPCU at 22%, KCCE Marketing Agency Ltd at 7%, Kiambu Coffee Marketing at 3% while Minnesota and Kipkelion traded at 2% each.
The average price per bag was $206, an increase from $194 last week. Alliance Berries achieved the highest average price at $236, followed by KCCE Marketing Agency Limited at $219. Minnesota Coffee Marketers Ltd had the lowest average price at $169 per bag.
Coffee Buyers
A total of 19 buyers participated in the auction. The top 6 buyers, led by Louis Dreyfus company bought 95% of the coffee presented. In the category of the least volume procured by a buyer, we had Maribe Exporters purchasing 14 bags or 895 kgs of coffee from the auction.
