Kenya Aims at Doubling U.S. Coffee Shipments in Two Years' Time
(Bloomberg) -- Kenya plans on doubling its coffee exports to the U.S., the world's largest consumer of the beverage, by marketing the East African nation's specialty premium grade beans.
“North America is a big market for specialty coffee and we expect the visibility Kenyan coffee gets will help grow our market share in the United States,” Kiplimo Melli, head of Kenya's Coffee Directorate, said in an interview Wednesday in Nairobi, the capital.
Africa's fifth-biggest coffee producer exported 6.1 million kilograms (13.4 million pounds) of the beans to the U.S. in 2015-16, from 7 million kilograms a year earlier, accounting for 14 percent of total coffee exports. Kenya wants about 30 percent of its crop to end up in the U.S. by end-2019, he said.
Germany bought the most specialty Kenyan coffee in the last season at 8.17 million kilograms, followed by Belgium with 7.4 million kilograms. While Kenya is a tiny grower compared with regional producers such as Ethiopia and Uganda, its beans are highly sought after for their acidity, and often used in blends to improve coffee from other origins.
U.S. Exposure
Average export prices to the U.S. were the highest in 2015-16 at $296 per 50-kilogram bag, 18 percent higher than to Germany, according to government statistics.
The nation's produce will be showcased as a “portrait country” at this year's Specialty Coffee Association of America symposium in Seattle, the home of Starbucks Corp., exposing it to more than 12,000 producers, roasters, brewers and buyers in attendance. This follows a delegation of American buyers that visited Kenyan coffee-growing regions in November.
Coffee exports rose 6 percent to 44,400 metric tons for the 2015-16 season, earning Kenya $206 million. Sales to the U.S. accounted for $32.8 million in the same period.
To contact the reporter on this story: Samuel Gebre in Nairobi at sgebre@bloomberg.net.
To contact the editors responsible for this story: Paul Richardson at pmrichardson@bloomberg.net, Helen Nyambura-Mwaura, Pauline Bax
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.