info.afrindex.com
China-Africa Trade Information Service
Photo from Daily Nation
It is reported that coffee prices have fallen to the lowest in 12 years. The average price of coffee in the 50 kg bag dropped from Sh20, 229 in October 2017 to Sh16, 237.6 in the previous month.
Producers in October made about Sh809.7 million in the month of October at the Nairobi Coffee Exchange after selling 2,493,243 bags of the beans.
This is an increase from the Sh655.2 million made last year from 1,619,403 bags of coffee. However, despite the volumes of coffee this year significantly increasing, as compared to the same period last year, prices of the cash crop drastically plummeted.
This is contained in market data from the Nairobi Coffee Exchange (NCE) during the 2017/2018 year.
Grade AA of coffee attracted a price of $322.8 per bag, while Grade AB attracted $209.3 for the same quantity.
Kenya and other East African countries with a high degree of dependency on coffee exports, will feel the impact of the falling prices as they rely on coffee export earnings for socio-economic development.