From July 27th to 30th, the XXIV International Tasting The Best of Panama will take place virtually, in which 45 producers registered a total of 161 specialty coffee lots.
Laestrella.com.pa reviews that "... The Specialty Coffee Association of Panama (SCAP) has completed the registration process and as of June 15 will receive 24,150 pounds of the world's most coveted coffee, which has been carefully selected by producers.
As part of the Agritrade Expo & Conference 2019, the first live auction of differentiated Guatemalan coffee will be held on February 20.
From the Agexport statement:
AGRITRADE Expo & Conference 2019: First Live Coffee Auction in Guatemala
A Coffee Trade that will have a live auction to ease the business of differentiated Guatemalan coffee; a pavilion of plants and flowers; vegetables and fruits that will be known through Guatemalan chefs cooking the flavor that exceeds expectations, and 10 more activities, will be presented in the XIX Edition of AGRITRADE Expo & Conference, to more than 150 international buyers. Guatemala's exportable agricultural offer will be present and will seek to generate business for US$ 65 million in the short and medium term.
A Taiwanese company has paid $803 for a pound of geisha coffee produced in the province of Chiriqui, surpassing the highest price of $601 paid for a grain of this type.
In the online auction 'The Best of Panama 2018', the Asian company Black Gold Coffee Co paid the highest amount per pound that has been registered for a coffee of the geisha variety, buying it from Elida Geisha Green Tip Natural which produces the grain in the District of Boquete.
The lot that this year was best quoted in the international electronic auction reached $30 thousand per hundredweight, and the grain comes from the canton of Dota, Los Santos zone, Costa Rica.
The high quality coffee that received the best quote in the international electronic auction in the Cup of Excellence contest is from the Don Cayito farm, with a price of $30,009 per hundredweight.
In the international auction known as "The Best of Panama", a pound of Geisha coffee from the farm La Esmeralda Cañas Verdes reached the record price of $601.
The winning bidder was the Korean company Kew Specialty Coffee Co, which offered the record price of $601 per pound of specialty coffee produced in the mountainous region of Boquete.
In the online auction of speciality coffee known as 'The Best of Panama' international buyers paid the record price of $275 per pound for the geisha variety of the grain.
In the auction, organized by the Specialty Coffee Association of Panama (SCAP), a record average price of $60 per pound was reached.
Panamaamerica.com.pa reports that "...The batch that earned the best price was Elida Geisha Green Tip Washed submitted by the Lamastus family, cultivated in the area of Alto Quiel, in the town of Boquete, about 1.800 meters above sea level, and was sold at 275.5 dollars a pound."
In the electronic Cup of Excellence auction 46 lots were sold, with maximum payments reaching $1,410 per hundredweight.
Without beating the prices paid at the auctions of specialty coffee in Costa Rica, Nicaragua and El Salvador, in Panama lot of Esmeralda Geisha Natural Jaramillo coffee, from the Peterson family, won first place in the auction, with a priced of $140 ,10 per pound.
The winner in the category Exotic Natural was the lot Geisha Natural Jaramillo submitted by Hacienda La Esmeralda, which along with the winners in the other categories, will be auctioned online on June 23.
Second place was awarded to a batch of Jose Gallardo Geisha, with a score of 93.1, which was also a winner in the washed exotic coffees category. On the other side, first place in the traditional washed category went to Kalithea Jesus Sierra, with a score of 88.39, and second place went to a batch of Elida Lamastus Family Washed with 87.37 points.
The international price of the grain fell to its lowest value in the last twelve months, despite the projected deficit for 2014/15 harvest.
From a report by the International Coffee Organization (ICO):
February saw a continuation of the downward trend of recent months in the coffee market. The ICO daily composite price indicator fell to just below $1.30, more than $0.50 less than the most recent peak of $185.09 in October 2014.
From April 29 to May 2 a competition will be held among producers of the geisha variety and on June 23 the auction "The Best of Panama" will take place.
"The Best of Panama" competition will evaluate two categories: variety and finish, in order to rule out the lots with less potential and highlight the salient ones, which will advance to the next round to be considered in the auction.
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.
On August 12th the Ministry of Finance will auction $20 million with a one year term through the electronic system of the Stock Exchange.
The settlement will be made on August 15th, according to Katyuska Correa, Director of Public Credit, in a note to the Panama Stock Exchange.
Prensa.com reports that "...The presentation of offers will be between 9:00 and 10:00 am through the electronic bidding system of the Stock Exchange. "
Confirmation has been given for August 26th as the second phase of the electronic auction "The Best of Panama" which will offer 46 lots of geisha and traditional coffee in the wash and natural presentations.
The auction starts with a base price of $4 per pound of grain and to participate in the auction international buyers must register with the Speciality Coffee Association of Panama.
Taiwan, Japan, Korea, Australia and the United States were the largest buyers in the first of two international online auctions of fine coffees known as "The Best of Panama".
In the first of two online auctions, held on June 24, the coffee house Junior Taiwan paid $107.86 per pound of coffee "... grown using a natural process in La Mula farm, owned by Willem Boot" .
On June 24 50 lots of geisha and natural coffee will be auctioned and in early August the remaining 48 lots, winners of the national contest will be auctioned.
For the international auction to be held on June 24 interested buyers "... must be registered on the www.stoneworks.com platform. Among the requirements are that they have a credit card with a limit greater than $10,000 ...