The Cabinet Secretary, Ministry of Co-operatives and MSMEs Development, Simon Chelugui, has announced that Kenyan coffee products have recorded exciting prices on the Nairobi Coffee Exchange (NCE).
“Today, we have received exciting news from the NCE, where Kenyan coffee products have attracted big interest across the globe, with some 32 companies now participating in the market, translating to good prices,” Chelugui said.
He said the price for Premium Coffee (AA) has risen from USD90 (Ksh13500) to USD350 (Ksh52500) per bag, showing that the reforms we started earlier in the year are paying off.
He added that the increase in prices shows that the coffee reforms initiated by President William Ruto are working and farmers are winning big.
“We are glad that our coffee farmers are now reaping big from good prices just six months after the coffee sector reforms initiated by President William Ruto came into effect,” he said.
The Excited CS added, “I thank President William Ruto for initiating the reform process in the coffee sector, a key value chain in the Bottom Up Economic Transformation Agenda (BETA), and delegating his deputy, Rigathi Gachagua, who has been steadfast, to spearhead the process.”
He said the coffee sector is a lifeline for over 6 million Kenyans who depend on coffee for a livelihood, and the reform agenda is putting a smile on their faces.
Under the new reforms, led by DP Gachagua, coffee dealers must purchase coffee through the Nairobi Coffee Exchange auction unlike in the past when farmers sold to brokers.
Brokers in the coffee value chain are said to be unsettled by the new regulations, which give farmers direct access to the auction.
By Amos Kerich
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