Soaring Kenyan coffee price encourages investment

09/02/2011 - Kenya property & investment news Posted by Bob Brunskill
Soaring Kenyan coffee price encourages investment

Business and property investment in Kenya could be among the sectors benefiting from the country's booming coffee market.

Figures from the Nairobi Coffee Exchange show that sales have more than doubled in the first quarter of the 2010-11 crop season to reach $45.73 million, Reuters reported.

In addition, it was shown that thanks to a new, more disease-resistant coffee variety called Batian, coffee earnings in the country doubled to 16 billion Kenyan shillings in 2009-2010.

"The coffee prices are encouraging to farmers and we are receiving new orders (for seedlings) even from strange regions that have previously never grown coffee," Bernard Gichimu, head of plant breeding at the country's Coffee Research Foundation (CRF) told Reuters.

"We are receiving orders from other countries like Rwanda, Malawi, Zimbabwe, Tanzania and Uganda, but we can not even meet the demand (within) Kenya."

The CRF also disclosed that the demand for coffee seedlings in 2010-11 rose to 14.9 million compared to 2.7 million the previous year.

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