12 °c
London
Monday, February 6, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Falling coffee prices causing concern among East Africa farmers

Taarifa Rwanda by Taarifa Rwanda
August 26, 2020
in Africa, Agriculture, Coffee, Commodities, East African Community, Economy, Export, Farming
Reading Time: 2 mins read
843 9
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Coffee farmers across the East African bloc are keenly following the seemingly unforgiving trend of falling coffee prices as reported by Kenya’s Nairobi Coffee Exchange (NCE).

The Nairobi Coffee Exchange said Thursday that coffee prices had plunged by 9% attributed to low quality coffee beans and a drop in supply.

With the surge in devastating effects of Covid-19 pandemic, the global demand and consumption of coffee has significantly dropped just like other sectors of the economy are suffering.

Statistics from NCE indicate that a 50kg bag of coffee was sold at Sh25,164 down from Sh27,233 in the previous sale at the auction.

“The prices have gone down a bit because of declining quality but we still see this as good earnings given the quality of beans that we are getting now,” NCE said on Thursday.

The lower volumes saw the NCE skip a week of trading in order to accumulate enough volumes to enable the auction to be conducted after gaining enough quantities.

Also read: Angola Prodesi finances coffee production

Auction resumed from recess almost two months ago after closing for a month when the main crop season from central Kenya came to an end.

Kenya says its Coffee earnings dropped by Sh2.5 billion in eight months to May on account of low volumes as the quantities offered at the trading floor were impacted by the closure of auction floor by the Health ministry as a mitigation measure to curb Covid-19.

The coffee year begins in October. NCE data indicated that the cash crop fetched Sh7.8 billion in the review period, down from Sh10.3 billion in the same period last year.

The decline in earnings resulted from a sharp drop in volumes, which were down 32 percent compared with the previous period.

Original article on Taarifa Rwanda

Related

Tags: africaAfrican coffeeagricultureCoffeecoffee farmerscoffee farmingcoffee pricescommoditiesEast AfricaFalling coffee prices causing concern among East Africa farmersfarmersFarmingафрикаأفريقياアフリカ非洲
ScanSendShare341Tweet213Share60Pin77Send
Taarifa Rwanda

Taarifa Rwanda

Taarifa is a Rwandan news media house established to play a role in shaping the global agenda through telling Africa’s true stories by delivering quick, in-depth and exclusive news on issues and events affecting Africa’s political, economic and social landscape.

Related Posts

IMF, World Bank say Africa to get US$57B from official creditors in 2020
Private Equity

Phatisa invests in MHL

by Africa Global Funds
February 6, 2023
Fintech

Proof of Reserve saves Africa’s crypto Industry from fake blockchain companies

by Web3Africa
February 5, 2023
Travel

Is travelling to Zimbabwe expensive? The truth

by See Africa Today
February 5, 2023
Insight – The rise of Women entrepreneur in Africa
Finance

AfDB provided US$1B to African women entrepreneurs

by FurtherAfrica
February 5, 2023
Travel

Untapped low budget tourist attractions in Nigeria

by See Africa Today
February 4, 2023
Platform Africa 2023
 
Mozambique eVisa
 
MozParks
 

Translate this page

Read the Latest

IMF, World Bank say Africa to get US$57B from official creditors in 2020
Private Equity

Phatisa invests in MHL

by Africa Global Funds
February 6, 2023
0

Phatisa has acquired a significant minority stake in MHL International Holdings (MHL), a printing and packaging group in sub-Saharan Africa....

Read more

Proof of Reserve saves Africa’s crypto Industry from fake blockchain companies

February 5, 2023

Is travelling to Zimbabwe expensive? The truth

February 5, 2023
Insight – The rise of Women entrepreneur in Africa

AfDB provided US$1B to African women entrepreneurs

February 5, 2023

Untapped low budget tourist attractions in Nigeria

February 4, 2023

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 100,778 other subscribers.
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?