Kenyan Coffee Prices Dip Slightly As Brazil Drought Boosts Global Rates

The value of Kenyan coffee edged down slightly but remained strong as the Nairobi Coffee Exchange held its first auction of the season, with global prices buoyed by a prolonged drought in Brazil, the world’s largest coffee producer.

The price for a 50-kg bag of Kenyan coffee fell to $256 from $257 at the previous sale, as the country nears the end of sales from its lower-grade short-term crop.

The auction marked the first sale of the new crop year, with traders awaiting the arrival of…