Kenya's Coffee Earnings Decline by 20% Despite Rise in Value

  • 📰 allafrica
  • ⏱ Reading Time:
  • 16 sec. here
  • 13 min. at publisher
  • 📊 Quality Score:
  • News: 48%
  • Publisher: 99%

Business News

Kenya,Coffee,Earnings

Kenya's coffee earnings have experienced a 20 percent decline due to low volumes, despite a rise in the value of a 50-kilo bag. The total earnings for the week dropped from $10 million to $8 million, mainly caused by a decrease in the volumes offered for sale. However, the kilo of coffee has rallied two percent to $252, attributed to declining volumes at the international market.

Kenya's Coffee experienced a 20 percent decline in overall earnings for the week, attributed to low volumes, despite a rise in the value of a 50-kilo bag, according to market data from the Nairobi Coffee Exchange.

However, the coffee market recorded the highest value for the season with the kilo of the commodity rallying two percent to $252. Market momentum was fueled by persistent worries stemming from the potential impact of extensive rainfall in Brazil's key coffee-producing regions on crop yields.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines