Coffee farmers earnings drop to Ksh6.8 billion in February auction

The coffee farmers earning dropped to Ksh6.8 billion after 134,602 bags of coffee were traded in February through the Nairobi Coffee Exchange (NCE) down from Ksh 7.5billion in January.

However; 33,515 bags were withdrawn from the market after buyers and the farmers failed to agree on the negotiated prices during the coffee auction.

February earnings was a decrease from what the farmers netted in January when 119,381 bags of coffee were traded, earning Ksh7.5 billion, showing a clear shrinking in coffee prices.

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A coffee value chain expert, Henry Kinyua, said the buyers are interested in the quality coffee, meeting their satisfaction, thus earning the farmers an impressive payment.

“The market analysts attribute the weaker prices primarily to falling of Arabica futures, on the New York Intercontinental Exchange (ICE), and increased supply volumes entering the Kenyan market during the peak harvest window,” he said, adding that the buyers are seeking quality coffee.

By Juma Ndigo

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