According to The Kenyan Wall Street, Kenya’s earnings from Coffee, reportedly dropped by 3 billion Kenyan Shillings in the 11 months leading to August 2019.
The information which was originally from a report by the Nairobi Coffee Exchange market report stated that by the end of the month of August 2019, Kenya’s Coffee earnings were at 11 billion Kenyan Shillings a far cry from the 14 billion Kenyan Shillings which the nation earned during the same period in the previous year (2018).
The Nairobi Coffee Exchange has overtime, been campaigning to have local consumers increase their consumption of coffee and by so doing, lead to a reduction in its over reliance on the international markets.
While the nation’s production of Coffee has reduced over the years as a result of farmers not growing the commodity (poor management is allegedly the reason), Kenya still has one of the best coffee in the world.
The Chief Executive Officer (CEO) of the Nairobi Coffee Exchange; Daniel Mbithi, stated that the low earnings were as a result of the trend of low prices in New York which occurred consistently. This was due to the lowering of prices of New York Terminal recorded a reduction in prices which reached a low of 86 cents per pound in 2019 compared to a high of 120 cents per pound just last year 2018.
