Coffee price falls 3.5pc at the auction
The coffee price weakened by 3.5 percent or Sh800 this week from the previous sale following a decline in international prices. The average price of a 50-kilogramme bag stood at Sh23,000 on Tuesday down from Sh23,800 in the previous sale. The Coffee Directorate said international prices have remained low since December, putting pressure on the local crop. More than 90 per cent of Kenya’s coffee is sold in New York, the world’s largest coffee auction.The directorate is conducting a campaign to promote local consumption of the beverage to boost domestic sales and cut reliance on the international market. The directorate had anticipated high prices witnessed since the beginning of the year to hold in the next two months as more quality beans from the main crop season in central Kenya continue to get to the market.Coffee production in Kenya has been falling over the years, compelling the government to form the taskforce to address the issue.