Coffee earns record Sh5.6bn on Brazil, Ethiopia troubles
Monthly coffee earnings rose to a record $50 million in December as Kenya reaped from the frost that destroyed the crop in Brazil and the civil wars in Ethiopia.
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Monthly coffee earnings rose to a record $50 million in December as Kenya reaped from the frost that destroyed the crop in Brazil and the civil wars in Ethiopia.
Coffee prices fell for the fourth consecutive auction last week due to high volumes of produce from western Kenya and Central region hitting the market.
The price of coffee at the weekly auction dipped by 1.3 percent on buyer concerns about the lower quality beans offered for sale.
A market report by the Nairobi Coffee Exchange (NCE) indicates the commodity fetched Sh37,074 per 50-kg bag.
Brazil has been experiencing severe frosts in its coffee belt this year, leading to lower coffee production and increase in international prices.