Kenya: Scramble for Quality Drives Coffee Price Rally

Business Daily (Nairobi)

18 September 2007
Posted to the web 19 September 2007

Allan Odhiambo
Nairobi

Coffee prices hit a record high this year during yesterday's trading at the weekly auction at the Nairobi Coffee Exchange (NCE), triggered by a scramble for the few available quality offers and steady prices in the international market.

Taking a cue from a record rally during last week's sale, the price of a 50kg bag of coffee hit $129.82 mark (Sh9,087, an improvement of about US$2 (Sh140) over the previous sale where prices broke a seven-month barrier.

Market analysts said a scramble for the few available quality offers and steadier prices in key international markets triggered yesterday's rally.

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