Kenya to Offer 566 Tons of Arabica Coffee Beans at Auction on Nov. 10
November 06 2020 - 2:00PM
Dow Jones News
By George Mwangi
NAIROBI, Kenya -- At least 566 metric tons of Arabica coffee
beans will be on offer at next week's auction, the third auction
this season, the Nairobi Coffee Exchange said Friday.
At the prior auction on Oct. 27, the second of the October
2020-September 2021 season, the average price across all grades was
$243.83 for a 50-kilogram bag compared with $241.38 a bag at the
previous auction, the auction house said in a market report
summary.
At the previous auction, 535 metric tons of Arabica coffee beans
were on offer, of which 514 tons were sold.
The weekly auction was rescheduled last month to biweekly due to
low volumes at the end of the October 2019 to September 2020
season, according to Karen Mumbua, business administrator of the
auction house.
Kenya's arabica auctions use the New York ICE futures index as
their benchmark.
Almost all Kenyan arabica coffee is sold at the weekly Nairobi
auction mainly for export, although direct sales are allowed.
Write to Barcelona Editors at barcelonaeditors@dowjones.com
(END) Dow Jones Newswires
November 06, 2020 13:45 ET (18:45 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Intercontinental Exchange (NYSE:ICE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Intercontinental Exchange (NYSE:ICE)
Historical Stock Chart
From Apr 2023 to Apr 2024