Bloomberg News

Kenya’s Top Coffee Climbs First Time in Three Weeks on Supplies

September 04, 2012

Kenya’s top coffee rose for the first time in three weeks after supplies of the grade declined, the Nairobi Coffee Exchange said.

Benchmark AA gained as much as 17 percent to $312 per 50- kilogram (110-pound) bag from $267 a week ago, the exchange said today in an e-mailed statement from Nairobi, the capital. Supplies of the grade fell 32 percent to 812 bags, and the average price climbed 7 percent to $281.27 a bag,

“The supply for AA was low and yet there were some orders for it,” Mansukh Shah, a coffee trader at Nairobi-based Alanwood Ltd., said by phone. “On the whole the quality of the coffee was mixed with little changes in prices of other grades.”

Sales at the auction climbed to 8,148 bags valued at $1.6 million from 5,717 bags worth $1.1 million last week, according to the exchange. Supplies at the auction fell 6 percent to 20,714 bags. The average price for all the coffee sold rose 2 percent to $160.16.

The following are details of today’s auction in U.S. dollars per 50-kilogram bag:

Grade          Low            High          Average
AA             191            312           281.27
AB             146            200           176.84
C              101            172           154.52
MH             102            143           136.15
ML              78             91            85.21
PB             154            176           170.14
T               78            143           116.09
TT             155            166           158.25
UG             153            176           173.42
UG1            128            157           147.47
UG2             74            157           142.26
UG3             80             87            82.49

To contact the reporter on this story: Fred Ojambo in Kampala at fojambo@bloomberg.net

To contact the editors responsible for this story: Bryson Hull at bhull5@bloomberg.net; Paul Richardson at pmrichardson@bloomberg.net


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