Latest news from coffee producing areas in Kenya transaction volume at auction of Kenyan coffee bean market price rose
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Compared with the same period last year, Kenyan coffee revenue increased by 93% at the end of February, as good prices, high sales and weak shilling (Kenyan currency) pushed up exports.
Coffee beans brought Kenya 8.7 billion shillings in February, up from 4.5 billion shillings in the same period last year, according to a market report from the Nairobi Coffee Exchange (NCE). This is 67% more than the 5.2 billion shillings that coffee beans brought to Kenya in January, which means that if this trend continues, farmers are expected to achieve significant income growth this year.
In February 2021, the trading volume of coffee in Kenya reached 218928 bags (50 kg / bag), an increase of 13.3% compared with 193215 bags in the same period last year. By the end of February, the average price of a bag of Kenyan coffee beans had also risen 55 per cent to 32560 shillings from 20900 shillings in the same period last year.
NCE chief executive Daniel Mbithi (DanielMbithi) said the sharp increase in revenue was due to high demand for Kenyan coffee and an increase in auction volume. At present, the demand for coffee in Kenya is very high, especially high-quality coffee beans treated with water. "
Commodity prices have also been boosted by higher prices on the New York Coffee Exchange (New York Coffee Exchange), which plays an important role in determining the value of crops in Kenya. Commodity prices on the New York Stock Exchange (NewYorkExchange) have risen from a low of less than 90 cents a pound in the previous quarter to a high of about 135 cents.
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