Latest News from Kenya Coffee Regions: Coffee Bean Market Auction Sees Increased Trading Volume

Kenya Coffee Revenue Surges by 93% in February

Compared to the same period last year, Kenya's coffee revenue grew by 93% at the end of February this year, driven by favorable prices, high sales volumes, and a weak shilling (Kenyan currency) that boosted export volumes.

A market report from the Nairobi Coffee Exchange (NCE) shows that coffee beans generated 8.7 billion shillings in revenue for Kenya in February, up from 4.5 billion shillings in the same period last year. This represents a 67% increase from the 5.2 billion shillings generated in January this year, suggesting that farmers can expect significant income growth this year if this trend continues.

In February 2021, Kenya's coffee trading volume reached 218,928 bags (50kg per bag), a 13.3% increase from 193,215 bags in the same period last year. By the end of February, the average price per bag of Kenyan coffee beans had also increased by 55% from 20,900 shillings in the same period last year to 32,560 shillings.

Daniel Mbithi, CEO of NCE, stated that the significant revenue increase was due to high market demand for Kenyan coffee and increased auction volumes. Currently, demand for Kenyan coffee is very high, especially for high-quality washed coffee beans.

Commodity prices have also been boosted by rising prices at the New York Coffee Exchange, which plays an important role in determining the value of Kenyan crops. Commodity prices at the New York Exchange have risen relatively from lows of less than 90 cents per pound in the previous season to highs of around 135 cents per pound.

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