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Kenya’s benchmark coffee grade climbed to its highest level in four weeks at a sale today after supplies fell, the Nairobi Coffee Exchange said.
The benchmark AA grade rose 4.8 percent to an average of $276.01 for a 50-kilogram (110-pound) bag from a week earlier, the exchange said by e-mail from Nairobi, the capital.
Supplies of AA beans fell 20 percent to 913 bags and sold for as much as $293 a bag compared with $301 last week, the exchange said.
The exchange, a trading platform of the Kenya Coffee Producers and Traders Association, said the average price for all the coffee sold climbed 0.9 percent to $150.06 a bag after total supply fell.
“Prices were steady and superior beans fetched good prices,” Mansukh Shah, a coffee trader at Nairobi-based Alanwood Ltd. said by phone. “The quality of the coffee was better than last week.”
Sales at the auction climbed 5.4 percent to 8,301 bags worth $1.52 million from 7,875 bags valued at $1.42 million last week, it said.
Supplies at the auction fell 5.5 percent to 18,107 bags from last week, the exchange said. Kenya harvests its early crop from May through July, while the main crop is reaped from September through December, KCPTA says. Its coffee season runs from Oct. 1 through September.
The following are details of today’s auction in U.S. dollars per 50-kilogram bag:
Grade Low High Average AA 181 293 276.01 AB 148 213 195.27 C 93 179 160.10 HE 146 162 153.14 MH 101 122 112.83 ML 53 101 76.31 PB 142 245 210.08 SB 42 59 53.89 T 117 163 146.63 TT 157 203 177.28 UG1 101 185 157.64 UG2 58 156 129.06
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