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coffee NAIROBI: The top price of Kenya's benchmark coffee grade AA inched lower to $301 per 50 kg bag at this week's sale from $305 at the previous auction, the Nairobi Coffee Exchange (NCE) said on Tuesday.

Although Kenya is a small coffee producer compared with other producers globally like Brazil and Vietnam, its speciality beans are much sought after for blending with those from other producing countries.

The NCE said in its weekly report that grade AA fetched $301-$171 per bag, compared with $305-$180 last week.

The exchange said on Monday it will be closed for a month from July 18 to Aug. 10 as the season comes to an end. It said that in July the auction will be held once every fortnight.

Grade sold at $241-$129 per bag, compared with the previous sale's $217-$154.

The exchange said 19,157 bags of coffee were offered for sale, with 7,875 sold for a total of $1.4 million, with an average of $148.79 per bag.

Last week, 14,584 bags were offered for sale and 5,542 sold for a total of $1.05 million at an average price of $155.73 per bag.

Copyright Reuters, 2012