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Kenyan Arabica Coffee Prices Rise Slightly at Auction

14 Feb 2018 9:54 am
   By George Mwangi 
   Special to Dow Jones Newswires 

NAIROBI--Kenyan arabica coffee prices were relatively flat at this week's auction, rising by an average of 0.1%, the Nairobi Coffee Exchange said Wednesday.

The average price across all grades for Tuesday's auction was $280.32 for a 50-kilogram bag compared with $280.01 a week earlier, although for some grades, averages were lower. A total of 25,060 bags were offered at this week's auction compared with 25,294 bags last week.

Upticks in prices are generally attributable to better-quality beans arriving at the market from the Mount Kenya region, said Daniel Mbithi, chief executive of exchange.

"It is anticipated that this trend may persist in the next few sales," Mr. Mbithi said.

Mr. Mbithi said prices were also higher due to the resumption of sales following the year-end break. Buyers usually purchase more coffee after the break in order to meet their contracts.

Auctions were in recess from Dec. 13 until Jan. 9.

Below are prices in dollars for a 50-kilogram bag of arabica.
    AA     50   679   286,286  379.87    394.51 
    AB     57   485   783,413  290.57    297.80 
    C      51   309   270,513  220.14    209.52 
    E      258  317   3,167    299.20    298.67 
    PB     71   420   75,871   271.52    267.73 
    T      36   136   30,812   94.60     83.26 
    TT     85   265   25,003   176.04    191.65 
    UG     N/A  N/A   N/A      N/A       81.00 
    UG     61   131   12,964   87.31     159.34 
    UG2    22   69    12,941   57.14     92.69 
    UG     N/A  N/A   N/A      N/A       N/A 

Kenya's arabica auctions use New York ICE futures prices as their benchmark. Almost all Kenyan arabica is sold at the Nairobi Coffee Exchange auction, although direct sales are allowed.

Write to Barcelona editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

February 14, 2018 04:54 ET (09:54 GMT)

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