Earnings from coffee sales at the Nairobi Coffee Exchange NCE) are on upward trend as reforms initiated by government in the last two years pay huge dividends to farmers.
The chairman of the Nairobi Coffee Exchange (NCE) Kenneth Gitonga since the re-opening of the NCE in August 2023, they have observed a marked improvement in trading dynamics.
He said the NCE has traded USD 203 Million dollars since the reopening of the auction under the new regulatory framework and the average price for the just concluded month of October 2024 was USD 254.07 per 50 kg bag in October 2024 which signifies an upsurge in both local and international prices where arabica coffee is benchmarked.
He said incremental gains represent a significant step forward in ensuring that farmers receive better returns.
“Looking ahead, we are committed to further expanding and refining the Exchange’s digital capabilities, ensuring that it remains an adaptable and forward-thinking institution. We will continue to enhance the integration of digital platforms, improving both accessibility and transparency for all stakeholders,” said Gitonga.
He said NCE recognizes that technological access is not uniform, and they will work to ensure that the digital transition does not marginalize any participant.
“The future of the NCE must be one where no one is left behind, and where the integration of technology supports and enhances the livelihoods of coffee farmers across the country,” he said.
The NCE Chief Executive Officer (CEO) Ms Risper Ndung’u said Kenya’s coffee sector is more than just an economic contributor, but it is a heritage, a culture, and a lifeline for millions.
“Our growers, who nurture every bean with care and expertise, are the heartbeat of this sector. However, they face growing challenges—from market volatility and limited access to global buyers, to inadequate support systems and changing climate patterns and the greatest concern so far has been the EUDR,” said Ms Ndungu.
She said supporting market access is no longer optional, but it is an imperative and by fostering transparency, promoting value addition, and enhancing farmer empowerment, the full potential of Kenyan coffee can be unlocked and secure Kenya’s place as a global leader in quality and sustainability.
“At the Nairobi Coffee Exchange, we are committed to driving reforms that prioritize our growers. By the implementation of the Crops Coffee General Regulations 2019 and the Capital Markets Coffee Exchange regulations 2020, which has given an opportunity for growers to make decisions about their trades, Our vision is one where every farmer, regardless of scale, has equitable access to markets, fair prices, and the tools to sustain their livelihoods for generations,” she said.
