Kenyan coffee sees boost

13/07/2011 - Kenya property & investment news Posted by Bob Brunskill
Kenyan coffee sees boost

Kenyan coffee prices rose ten per cent at a sale today (Wednesday, July 13th) as better quality beans stimulated demand, according to the Nairobi Coffee Exchange.In an emailed statement, the exchange observed that the average price for all the coffee sold increased to $343.25 per 50-kilogram bag, from $311.67 two-weeks ago.The exchange explained that the benchmark AA grade increased four per cent to an average of $434.24 a bag, Bloomberg has reported."The performance today was better because of an increase in demand and good quality coffee which is streaming in," David Muriithi, the exchange’s acting chief executive officer, commented.He added: "Traders were covering their short positions since we didn't have an auction last week and supplies may be low next week."James Wahome, the quality manager at the Coffee Board of Kenya, said earlier this year that Kenya's coffee production in the 12 months through September may fall 27 percent to 40,000 metric tons.