After seven hours of bidding, a natural-process Geisha from the Lamastus Family Estates in BsPanama, fetched $803 per pound at recently hosted auction.
At the Best of Panama green coffee auction hosted by the Specialty Coffee Association of Panama, 49 different Panamanian coffee lots, attracted buyers from all over the world.
This winning price shatters the previous record of $601 per pound set in the 2017 Best of Panama auction for Hacienda La Esmeralda Cañas Verdes’ Geisha Natural.
The second highest bid was for Elida Estate’s Geisha Green Tip Washed, which sold at $661 per pound, purchased by Saza Coffee and Coffee Treasures, totalling $66,100.
Nearly 6,000 pounds of coffee were auctioned in total, in 50-pound boxes, with an average winning bid of $98.68 per pound. Only nine lots received less than $50 per pound.
Geisha originated in Ethiopia and is revered for its floral and fruity notes. The Panamanian variety in question, the Lamastus family’s Elida Estate’s Geisha Green Tip Natural, grows in volcanic soil in the country’s Chiriqui region and was bought by Taiwan’s Black Gold Coffee Co.