@BusinessDaily

Raw coffee export ban bid to boost earnings

6 days ago, 17:43

By: Bonface Otieno

Gatundu South MP Moses Kuria is set to introduce in Parliament a proposed law seeking to ban export of raw coffee in a a bid to boost farmers’ earnings.

The bill, if passed into law, will ensure the cash crop is exported only in processed or roasted form, milled, parked and branded, clearly labelled with ‘a made in Kenya’ inscription.

“I am desirous of introducing a Bill in the National Assembly to provide that coffee be exported only in processed form. The bill does not affect the functions of the county governments and is therefore a bill concerning the counties for the purpose of Standing Orders,” he said.

Kenyan coffee is normally roasted and packed abroad, and then resold at more than triple the price of unprocessed beans.

As a result, the much sought-after premium coffee used for blending lower quality beans from elsewhere in the world earns farmers much less than it should.

However, the plan may be impractical as Kenya would have to create a whole new market for its coffee away from major global blenders.

Coffee farming contributes to about six per cent of the country's gross domestic product (GDP), with European countries, the US and Saudi Arabia being major markets.

A market report by Nairobi Coffee Exchange (NCE) indicates that earnings dropped from Sh5.5 billion ($55) million in October last year to Sh4.7 billion ($47 million) in the four months to January as low international prices affected local sales.

The low price was caused by international prices plummeting to the lowest level in two years from as high of 150 cents per pound to the current 120 cents.


Read More


Category: business news lifestyle economy corporate opinion markets

Suggested

2 hours ago, 11:55
@StandardMedia - By: Otiato Guguyu
How Government will make half a million Kenyans home owners

Every Kenyan with a payslip will help the Government fund the half a million housing units plan under proposals fronted by... ...

Category: business news
2 hours ago, 11:35
@StandardMedia - By: Cyrus Ombati
More than half of alcohol consumed in Kenya is illicit, says alliance

Up to 60 per cent of alcohol in Kenya is illicit and dangerous, more than double previous estimates by the World Health Organisation. ...

Category: business news
1 hours ago, 13:13
@BusinessDaily - By: The Citizen
TZ seizes fish at MPs' canteen, minister apologises

A ministry official had on Monday used a ruler to measure the length of processed tilapia on a plate before impounding the two kilos of fish ...

Category: business lifestyle news
4 hours ago, 10:18
@CapitalFMNews - By: Wambui Waweru
Hackers steal $30m from top Seoul bitcoin exchange

SEOUL, South Korea, Jun 20 - Hackers stole more than $30 million worth of cryptocurrencies from South Korea's top bitcoin exchange, sending the unit's pric Kenya breaking news | Kenya news today | ...

Category: business finance
7 hours ago, 06:49
@BusinessDaily - By: Abiud Ochieng
Kenya lawyer rules out analysing Anglo Leasing data

The lawyer, through mutual legal assistance, got documents from the Swiss government ...

Category: business news opinion economy
2 hours ago, 12:14
@CapitalFMNews - By: Kennedy Kangethe
Jubilee Insurance taps into microinsurance with premiums low as Sh20

NAIROBI, Kenya, Jun 20 - Jubilee Insurance on Wednesday launched microinsurance product targeting low-income earners in partnership with Bluewave Microfina Kenya breaking news | Kenya news today | ...

Category: business

@BusinessDaily

Raw coffee export ban bid to boost earnings

6 days ago, 17:43

By: Bonface Otieno

Gatundu South MP Moses Kuria is set to introduce in Parliament a proposed law seeking to ban export of raw coffee in a a bid to boost farmers’ earnings.

The bill, if passed into law, will ensure the cash crop is exported only in processed or roasted form, milled, parked and branded, clearly labelled with ‘a made in Kenya’ inscription.

“I am desirous of introducing a Bill in the National Assembly to provide that coffee be exported only in processed form. The bill does not affect the functions of the county governments and is therefore a bill concerning the counties for the purpose of Standing Orders,” he said.

Kenyan coffee is normally roasted and packed abroad, and then resold at more than triple the price of unprocessed beans.

As a result, the much sought-after premium coffee used for blending lower quality beans from elsewhere in the world earns farmers much less than it should.

However, the plan may be impractical as Kenya would have to create a whole new market for its coffee away from major global blenders.

Coffee farming contributes to about six per cent of the country's gross domestic product (GDP), with European countries, the US and Saudi Arabia being major markets.

A market report by Nairobi Coffee Exchange (NCE) indicates that earnings dropped from Sh5.5 billion ($55) million in October last year to Sh4.7 billion ($47 million) in the four months to January as low international prices affected local sales.

The low price was caused by international prices plummeting to the lowest level in two years from as high of 150 cents per pound to the current 120 cents.


Read More

Category: business news lifestyle economy corporate opinion markets

Suggested

2 hours ago, 11:55
@StandardMedia - By: Otiato Guguyu
How Government will make half a million Kenyans home owners

Every Kenyan with a payslip will help the Government fund the half a million housing units plan under proposals fronted by... ...

Category: business news
2 hours ago, 11:35
@StandardMedia - By: Cyrus Ombati
More than half of alcohol consumed in Kenya is illicit, says alliance

Up to 60 per cent of alcohol in Kenya is illicit and dangerous, more than double previous estimates by the World Health Organisation. ...

Category: business news
1 hours ago, 13:13
@BusinessDaily - By: The Citizen
TZ seizes fish at MPs' canteen, minister apologises

A ministry official had on Monday used a ruler to measure the length of processed tilapia on a plate before impounding the two kilos of fish ...

Category: business lifestyle news
4 hours ago, 10:18
@CapitalFMNews - By: Wambui Waweru
Hackers steal $30m from top Seoul bitcoin exchange

SEOUL, South Korea, Jun 20 - Hackers stole more than $30 million worth of cryptocurrencies from South Korea's top bitcoin exchange, sending the unit's pric Kenya breaking news | Kenya news today | ...

Category: business finance
7 hours ago, 06:49
@BusinessDaily - By: Abiud Ochieng
Kenya lawyer rules out analysing Anglo Leasing data

The lawyer, through mutual legal assistance, got documents from the Swiss government ...

Category: business news opinion economy
2 hours ago, 12:14
@CapitalFMNews - By: Kennedy Kangethe
Jubilee Insurance taps into microinsurance with premiums low as Sh20

NAIROBI, Kenya, Jun 20 - Jubilee Insurance on Wednesday launched microinsurance product targeting low-income earners in partnership with Bluewave Microfina Kenya breaking news | Kenya news today | ...

Category: business
Our App