Aucxis modernises auction system Nairobi Coffee Exchange
At the end of September Aucxis welcomed the Nairobi Coffee Exchange (NCE) delegation. During this visit, Geert Vonck (CEO) and Patrick Kariuki (Chairman NCE) signed the contract for the modernisation of the current auction system.
Since 1998, the Nairobi Coffee Exchange has been selling coffee through an electronic trading system developed by Aucxis. The electronic trading system was a boost for the auction thanks to the transparent prices for the various lots of coffee. Furthermore, correct prices can also be obtained by bringing offer and demand together. Both traders and farmers believe that electronic trading is still a very important concept. Thanks to the stability and easy maintenance of the system over the years, the NCE was immediately convinced to do business with Aucxis again.
In the auction room of the NCE, the supply and bidding information is visualised today on a mono-colour display. A time bar informs the buyers of the time remaining to raise a bid. In the first phase, Aucxis will modernise the entire auction solution which will – among others – considerably increase the pace of the auctions. The existing display will be replaced by a high-resolution P3 multi‑colour LED display. The existing price counter will be extended with a clock circle which clearly shows the price changes. Furthermore, each grower or buyer can retrieve, print or send individual reports by means of a special terminal. Growers and staff of the NCE can also follow the sale through two television screens within the auction building.
In a later phase, Aucxis will develop the most optimal solution for remote buying for the coffee market. As a good tracking and tracing of the coffee products is important, this process will also be further automated during this phase. In the first place, RFID technology seems to be the perfect solution in order to handle this in an adequate way.
About the Nairobi Coffee Exchange
The Nairobi Coffee Exchange (NCE) is the central coffee auction and trading floor of Kenyan coffee. As one of the most important institutions in the coffee industry, the NCE contributes to over 90% of the total Kenyan coffee produced and traded. The auctions as a mode of selling Kenyan coffee were introduced in 1934 and the first coffee auction was inaugurated in 1935. At the moment, the total range of Kenya Arabica coffee is sold but in the long term also other types of coffee will be sold through the auction system. Currently, a total volume of about 40,000 tons of coffee is sold each year.
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