In the Cup of Excellence auction the average price paid for the 24 lots of specialty coffee on offer was $9.17, while the maximum price was $25.80 per pound.
As in the 2014 auction, first place was obtained by the farm El Injerto, from the department of Huehuetenango. For the lot from this farm an international buyer paid $35.80 a pound.
Miguel Medina, president of the National Coffee Association (Anacafe) told Elperiodico.com.gt that "...
Forty-nine samples qualified for the national competition, which will be used to select entrants in the international auction, the Cup of Excellence, to be held from 4 to 8 May.
Of the 117 samples that were received in the preselection stage, 49 were classified with a minimum score of 85 points. It is expected that the international auction of the winning samples will be carried out on July 1 over the Internet from Anacafé's facilities.
European and American companies who buy specialty coffee in electronic auctions are losing ground to Asian buyers, who in auctions for top grains from markets such as Costa Rica and Guatemala, are pushing up prices to record levels.
Strong growth in coffee consumption in countries such as South Korea and Japan, coupled with the large purchasing power of its inhabitants has boosted demand for gourmet coffee and other special varieties.
The tenth edition of the online auction ‘Cup of Excellence’ will include 41 lots and 67 samples of the best coffees.
The purpose of the competition is to identify exceptional coffees lots for auction online. The panel of judges is composed of 18 international tasters, two national and six international observers, who will select the winners, reported Prensalibre.com.