Price of Kenya's benchmark coffee grade rises at auction

Coffee beans are seen at a Nairobi Java House outlet in Nairobi January 21, 2012. REUTERS/Noor Khamis

NAIROBI (Reuters) - The top price of Kenya's benchmark grade AA coffee rose to $339 per 50-kg bag at auction this week from $324 at last week's sale, the Nairobi Coffee Exchange (NCE) said on Wednesday. The east African nation is a fairly small producer of coffee but its quality beans are used by roasters to blend with beans from other nations. Grade AA coffee sold at $208-$339 per bag compared with $170-$324 at last week's sale, the NCE said in a market report. Grade AB fetched $194-$262 per bag compared with $166-$265 in last week's auction. The average price of all grades sold edged up to $225.15 per bag from $224.51 at the previous sale.

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