The Nairobi Coffee Exchange is reporting that coffee prices in Kenya have dropped for three consecutive weeks due to low-quality beans.
According to a Bloomberg report, average prices in Kenya have dipped to $148.79 for a 50 kilo (110 pound) bag, while the average price for benchmark AA-grade coffee fell to $263.34 per bag from a week earlier, a 5.9 percent decrease.
“Prices at New York were down,” Mansukh Shah, a coffee trader at Nairobi-based Alanwood Ltd., told Bloomberg. “The quality of the coffee was inferior and these could be the lowest prices this season.”
The full story: Bloomberg