Kenyan coffee prices fell at an auction Tuesday as buyers have enough stockpiles.
The average price fell 5.2 per cent to $178.08 for a 50-kilogram (110-pound) bag from $187.80 a week earlier, the Nairobi Coffee Exchange said.
The country’s benchmark AA grade fell 12 per cent to an average of $268.61 a bag, it said.
“There wasn’t much demand as people already have stocks,” Mansukh Shah, a coffee trader at Alanwood Ltd. said by phone from Nairobi. “The quality was quite good.”
Sales fell 59 per cent to 1,740 bags worth $378,901, the exchange said. Supplies at the auction rose 0.9 per cent to 22,941 bags from 22,731 bags, it said.
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