From April 7th to 11th coffee tastings will be held of the batches shortlisted to be sold on international auction, which will take place on April 11th.
March 31st saw the beginning of the national tasting of 92 types of Nicaraguan coffees, with a view to the upcoming event 'Finest Coffees of Nicaragua', organized by the Specialty Coffee Association of Nicaragua (ACEN), reported Elnuevodiario.com.ni.
$2,160 per hundredweight was paid for the specialty coffee that won first place in the electronic Cup of Excellence auction, less than the $4,210 and $2,350 paid in the auctions held in Costa Rica and El Salvador respectively.
The fact that a lower amount was offered and paid for the Nicaraguan coffee compared to that of Costa Rica, El Salvador and Honduras, where about $2300 was paid per hundredweight, has been attributed to variations in supply and demand, according to the Specialty Coffee Association of Nicaragua.
While the best price in the Cup of Excellence achieved last year was $531 per quintal, average prices now are at $751.
Elnuevodiario.com.ni reported that "Nowadays Nicaraguan producers of specialty coffee are exporting their product to the United States, the European Union and Venezuela and markets are opening up in Russia, Japan, China and Taiwan."