Coffee prices rose by 16 per cent this week on the back of high international prices and improved quality of clean coffee beans offered for sale currently.
Industry players are predicting better prices in the coming months as coffee bushes in Brazil damaged by frost last year are yet to recover and locally high quality beans of the main crop will have been received in the market.
Though Kenya is endowed with production of fine arabica coffee that is highly rated and fetches premium prices in the global market.
A market report by the Nairobi Coffee exchange (NCE) indicated that average prices during this week’s Sale 6 increased to $360.89 (Sh40,383.591) compared to $310.88 (Sh34,787.472) for a 50-kilo bag recorded during Sale 5 of last week.
Daniel Mbithi, NCE chief executive said the rise in price was occasioned by an upsurge in international prices from 200 US cts/Ib (Sh492.36) to yesterday’s price of 226cts/Ib (Sh4.972).