Buyers paid $6.70 million (KSh 865 million) for 1,131,513 kg of coffee at sale No. 5 on Tuesday. That works out to an average of $296 per 50kg bag, Business Today Kenya reported.
Coffee buyers spent $6.70 million, about KSh 865 million, at the Nairobi Coffee Exchange (NCE) on Tuesday. Business Today Kenya reported that trading session No. 5 moved 1,131,513 kilograms of coffee.
The average price came to $296 per 50kg bag. According to the outlet, that is roughly KSh 765 per kilogram of clean coffee. Before milling, it equals about KSh 118 per kilogram of cherry.
Farmers deliver cherry to factories. The cherry figure shows roughly what the auction price is worth at that stage, before milling and other costs.
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