The first Ecuador Cup of Excellence auction proved to be a big hit with the global marketplace, bringing in buyers from around the world and surpassing the previous average price per pound record set by the Ethiopia Cup of Excellence auction earlier in 2021.
A total of 113 bidders representing 23 countries competed for the 23 lots, with the total revenue of the auction amounting to US$250,068.45 (about $353,641.80).
The first place coffee in the Ecuador Cup of Excellence, a washed Typica Mejorado from the Saraguro, Loja region in Ecuador produced by Abel Salinas Pacheco, received the top price of US$97.10 per pound.
The entire lot, which was split for the auction, was purchased by the Taiwan-based Haru International Corporation.
“The 1st place lot was my favorite, very strong floral notes and extremely clean,” says Anderson Wong of Haru International Corporation.
The company plans to send samples of the coffee to Taiwan and China, as the top two coffees were purchased by companies based in Taiwan, with Orsir Coffee purchasing the second place winning coffee.
The top five coffees were purchased by companies representing five countries including the United States, Japan, Taiwan, United Kingdom, and China.
Many of the lower-ranking coffees fetched high prices, with the 20th place coffee, a honey Sydra produced by José Luis Eguiguren Pozo of Santa Gertrudis in the Loha region, receiving US$29 per pound for his coffee which was purchased by Wataru for Voila Coffee.
“If my coffee reached $20 per pound, I would have been satisfied given its ranking, but its good buyers valued it much more,” says José Luis Eguiguren Pozo.
Farmers together with National jurist and Asociacion de Cafes Especiales del Ecuador (ACEDE) staff gathered at the Universidad Ecotec in Guayaquil to watch the auction live.
Cup of Excellence in partnership with ACEDE promotes the production and consumption of specialty coffees nationally and internationally while highlighting the craft and effort of Ecuadorian coffee growers to produce high-quality coffee.
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