Daniel Mbithi News Today

Joy as 50-kg bag attracts Sh86,000 amid global scramble for high-quality beans.

The Nairobi Coffee Exchange (NCE) will admit five brokers the Capital Markets Authority (CMA) licensed last year.

The Kenya Coffee Planters Association (KCPA) has asked the government to implement the guaranteed minimum returns promise.

The price of coffee at the auction rebounded in the latest sale on the back of quality beans that are now streaming in the market.

Demand for Kenya’s coffee has declined following a rebound in production by Brazil, which had in the last two years recorded a sharp decline.

Kenya’s coffee earnings in the 11 months to August 2022 increased by Sh9.8 billion ($81 million) boosted by higher volumes and better prices.

The price of Kenya’s coffee at the Nairobi auction dropped to a three-month low in this week’s sale, reflecting lower demand.

Kenyan coffee farmers may be set for an earnings boom following a major crop failure in Brazil, the world’s leading producer.

The CMA and Agriculture Cabinet Secretary Peter Munya have been in a supremacy battle since 2020.

Coffee prices at the auction jumped by $83 (Sh9,711) in the first sale since the trading resumed from recess.