Varieties and processing dominate Costa Rica COE auction

Costa Rica COE auction

Despite the harsh reality of a pandemic and a lowered auction opening base price of US$5 per pound, two new records were set in the 13th Costa Rica Cup of Excellence auction.

A new average price per pound record was set at US$21.71, breaking the previous record of US$21.69 set in 2018. Additionally, all 26 lots up for sale received prices above US$14 per pound, a new record for Costa Rica COE auctions.

The total auction proceeds amounted to US$539,273.91 (about $754,121).

The Costa Rica Cup of Excellence auction is the fourth consecutive auction executed by Alliance for Coffee Excellence (ACE) that has broken average price per pound records. The ACE says the outpour of worldwide support through the willingness to reward quality coffee producers points to possible shifts in consumer preferences, encouraging future innovation and increased quality coffee.

It adds that winning producers were ecstatic and proud with the results of the auction.

“It is really exciting to see when two companies are fighting for your coffee during the auction, even though you can only see codes, it’s very humbling and at the same time makes you proud of what we do every day,” says Johel Monge of Finca El Cedro, who placed second in the Cup of Excellence.

Johel’s honey process Typica scored 90.14 points by the international jury, earning one of the two Presidential Awards in the competition. One of the two sublots was purchased by Kyokuto Fadie Corporation, the other by Hisashi Yamamoto Coffee.

The winning lot came from farm Don Mayo by producer Josue Bonilla Solís, who received a total of US$54,365.71 for his 90.27 scoring honey process Geisha. His lot was split into two sublots for the auction.

Lot 1b received US$70.10 per pound, the highest price paid in the auction, and was purchased by a group of buyers from China: Fisher Coffee, June Garden Coffee, Manner Coffee, Guangzhou Rhino Baking Co, La Finca, Seng Pan Coffee International, Eslite Coffee, Taster’s Coffee, and Latorre & Dutch.

Lot 1a was purchased for US$66.90 per pound by a group of buyers including Maruyama Coffee, Thoth Coffee, Cometeer, Mesh Coffee, Snow Beans Coffee, and Orsir Coffee.

The Cup of Excellence program promotes winning coffees internationally, helping to forge direct trade relationships while promoting a country’s quality coffee growing capabilities. Cup of Excellence helps producers to significantly improve the income for the coffee they produce, in addition to assisting with global prestige and recognition.

“Taza de la Excelencia is a great and very important promotional platform for Café de Costa Rica. This is key to keep positioning our coffee on the most demanding markets of the world and also gives the opportunity to our producers to obtain high prices for their highest quality products.” says Lic Xinia Chaves Quirós, Executive Director of Instituto del Café de Costa Rica.

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