Best of Panama

A NEW RECORD PRICE FOR COFFEE.

A new record in coffee pricing was established this last Tuesday at the 21st edition of the “Best of Panama” coffee auction on July 18th as part of an annual auction and industry award hosted by the Panama Specialty Coffee Association.

The auction yielded a total revenue of $368,771 for the coffee growers on nearly 6,000 lb. of coffee with an average price of $61.98/lb. Among these prices emerged a new world record of $601/lb. That lot, a 100 lb. lot of naturally processed Geisha, was purchased by Hong Kong’s Jason Kew and produced by Hacienda La Esmeralda of Boquete.

Fifty-one lots of at least 100 lb. of coffee each were offered including washed and natural Geishas, washed and natural traditional varieties and a new category featuring the Pacamara variety. Among the traditionals was a coffee variety new to Panama, the Bourbon Pointu aka Laurina. The auction concluded with single lots being purchased by the US, Holland and France, two lots each to UK and Saudi Arabia and seven lots going to Australia. The remaining 37 lots went to Taiwan, China, Hong Kong, Japan, Thailand, Indonesia and S. Korea. This broad set of buyers and the countries they represent have all shown their dedication to providing and patronizing the very best in Panamanian coffee.

The complete list of buyers who participated can be found at auction.bestofpanama.org.

The growers and producers of Panama would like to thank both our generous and loyal buyers, but also the judges led by Head Judge, Ric Rhinehart for once again helping to bring Panama to the forefront of quality coffee.

Wilford Lamastus
President
Specialty Coffee Association of Panama

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