Nairobi, November 19, 2008 - Kenya's coffee prices slid by about $2-$3 compared with the previous sale, despite strong demand across all grades, auction officials said on Wednesday.
"On the whole, the auction levels were down only 2 to 3 dollars amidst strong demand throughout the catalogue," Daniel Mbithi of the Nairobi Coffee Exchange (NCE) said in a market report.
He said notable exceptions were the early grade AA lots, which fetched better prices. The auction sold 11,366 50-kg bags.
"Of note were the early main crop AA's which were up significantly trading in the 206 to 210 range," Mbithi said. "This we feel will be the range for Top AA's in the coming main crop season."
He said next week's auction would see some fine coffees on offer. Some 11,842 bags 50-kg bags will be offered at the auction.