Coffee prices at the Nairobi auction have this week hit their highest this year. This follows a rebound that saw the prices rise by nearly five per cent.
According to a market report from the Nairobi Coffee Exchange, the price of the commodity jumped 4.4 per cent to trade at Sh31,518 in Tuesday’s auction from Sh29,355 last week for a 50-kilogramme bag. Last week, the price had fallen by 5.3 per cent.
The volumes on sale increased to 27,000 bags from 26,000 bags last week.
According to the Coffee Directorate, the value of Kenyan coffee rose 69 per cent in three months to December due to a price increase of nearly one third.
The commodity earned the country Sh2.6 billion between October and December compared with Sh1.5 billion realised in the corresponding period in 2015.
