NAIROBI, April 5, 2011 - The top price of Kenya's benchmark grade AA coffee dropped to $434 per 50-kg bag at this week's sale from $467 per bag two weeks ago.
Last vweek's auction was cancelled due to a drop in the volumes voffered.
AA's bottom price fell to $300 per bag from $320 per bag, while its average price eased to $397.06 from $411.87 in the previous sale.
AA peaked at a record $1,022 per bag in early February as low volumes pushed prices up.
The Nairobi Coffee Exchange said last week that its weekly sales would be suspended for two months from April 19 -- nearly
three months earlier than usual -- on a dip in volumes and crop
quality concerns.
Grade AB fetched $415-$295 per bag from $474-$228 per in the previous auction.
A total of 15,847 bags were offered for sale, with 9,245 sold at an average of 244.10 per bag, fetching $2.755 million.
In the previous auction, 17,514 bags were offered for sale, with 10,462 sold for an average of $331.10 a bag, yielding a total $4.23 million.
Kenya is a relatively small grower compared with others in the world, but its specialty beans are famous for their high quality and are much sought after for blending with those from other countries.
