In the electronic auction a pound of coffee harvested in the El Puente estate in La Paz, took first place with 91.7 points and a record $120 was paid by an international buyer.
The participant in the auction known as the Cup of Excellence 2016 paid $120.5 per pound of coffee from the farm called El Puente Kasai Coffee, followed by Maruyama Coffee & Toa Coffee, who took second place with a price of $120.10 per pound from the farm El Puente.
More than 300 farmers will be taking part in Cup of Excellence 2016, where a minimum score of 86% will mean the batch passes on to an online auction on June 16.
The Honduran Coffee Institute (Ihcafé) has certified more than 300 coffee growers for the Cup of Excellence 2016 event in April, the month which will see the starting stage and will feature more than 80 international buyers.
The first stage of the "Cup of Excellence" competition will be held from 23 to 27 March and the electronic auction of winning lots will take place on June 9.
From a statement issued by the Honduran Coffee Institute (IHCAFE):
The Honduran Coffee Institute (IHCAFE) in its constant quest for recognition of the quality of Honduran coffee holds every year the Cup of Excellence competition which allows coffee producers to enter specialty coffee markets, this competition is developed in partnership with the Alliance for Coffee Excellence (ACE).
The 23 samples selected in the national competition will form part of an electronic auction on June 17, in which over 200 international buyers will take part.
The international companies participating in the auction on June 17 hail from the United States, Taiwan, Japan, Australia and several European countries, who come to the country to see the sights, procedures and conditions under which the grain is grown.
Exporters warn that the proposal to retain $5 for every three or four pounds of exportable quintal will reduce competitiveness and encourage smuggling.
The bill introduced in Congress days ago cites the retention of $5 for every three or four pounds of exportable quintal in order to constitute a fund to support coffee growers affected by rust. Exporters believe that this measure will only encourage more smuggling and reduce the product's competitiveness internationally.
During the first ten months of the 2012-13 crop, coffee sales fell by 41.4% in currencies and 15.6% in volume.
According to the manager of the Honduran Coffee Institute (Ihcafé), Victor Hugo Molina, coffee exports between October 2012 and July 2013 were $763.8 million, whereas last season revenues were reported of $1,034 million.
$300 million will be required for pest control alone, and more than $1 billion to renovate the plantations that have been affected.
The figures which have been gathered unofficially indicated that in excess of 1.7 million quintals of coffee have been destroyed by the fungus known as rust in Honduras, Nicaragua and El Salvador.
The president of the Coffee Exporters Association of Honduras (Adecafeh), Omar Acosta says that the loss in Honduras could reach two million quintals, "The Ihcafé says that no damage has been done, butwe do not understand why they are lying. They should have a plan for the country because it is a serious problem, we all know that there is a strong impact from rust and we believe there is a damage of between 25% and 30% of the crop, which amounts to two million quintals. "
To date exports have totaled 6.6 million bags (weighing 46 kilos), 35% more than in the same period of the previous harvest when exports amounted to 4.9 million bags.
The figures are even more encouraging considering that the total exports so far have exceeded the goal for this year of 5.4 million bags, according to information as at August 7, 2012, from the Honduran Coffee Institute (Ihcafe) .
CISA Exportadora is a green coffee exporting company based in Nicaragua owned by the Baltodano family who enjoys over 100 years of coffee tradition.
Operates in Nicaragua
Phone: (505) 2270 4414 - (505) 2270 4412
Generates business opportunities by linking supply and demand of goods and services between Central America and the rest of the world.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (506) 225 4786
CECA mills and exports high quality green coffee from every region of Costa Rica, supplying specialty coffee industries of the United States, Canada, Europe and Japan.
Operates in Costa Rica
Phone: (506) 2202 4444 - (506) 2202 4400