Even though Kenya is not the leading producer of coffee in Africa, its government has decided to support the development of this sector, which employs over five million Kenyans. The government has recently allocated a special budget of $38 million to support the sector. The implementation of actions will be carried out by the Coffee Cherry Advance Revolving Fund (CCARF), an organization already active in providing financing solutions to coffee farmers.
The strategy aims to ensure a minimum purchase price in the future, set at $0.5 per kilogram instead of the current $0.37. This payment will be made in two installments, with the first part at the time of delivery to the processing plant and the second thirty days after pulping. Kenya expresses a strong ambition to increase production from 50,000 to approximately 250,000 tons by 2028.
Source: Agence EcoFin