Kenya: Coffee Auction Prices Hit New High

Business Daily (Nairobi)

2 October 2007

Allan Odhiambo

Prices at the coffee weekly auction reached yet another high yesterday, extending a record-breaking streak witnessed in the last four consecutive weeks.

Riding on the laurels of constrained quality offer supplies and speculation in key international markets , the average price of the commodity at the Nairobi Coffee Exchange (NCE) hit a mark of $141.30 (Sh9,749.70) per 50kg bag amid indications that a similar fate could be in the offing come the next sale because the currently supply situation is unlikely to change much, at least in the short term.

It is important to note that the dollar is the preferred denomination among coffee traders and they use it in all dealings.

More >>