Panamanian luxury coffee Geisha breaks a new world record

He panama geisha coffee set a new world record by selling for $10,005 per kilogram at the Best of Panama electronic auction, surpassing the 2021 mark, it was reported this Wednesday Panamanian Specialty Coffee Association (SCAP).

This auction sold a lot of 25 kilograms (55 pounds) of a type of geisha in the process of being washed. “Carmen Geisha – Carmen Estates by Panama Red Carmen Café Trading” for $250,125, the Panamanian association said.

He winning coffeegrown at 1900 meters above sea level, he bought A New Zealand coffee technology company, which is the highest price of an electronic auction and for the first time washed coffee, confirmed the president of SCAP Hunter Tedman.

“We did not expect this result, we are quite shocked, we are very happy. This batch continues to represent Panamanian geisha coffee,” they commented. Jean Paul Langenstein and Yajaira González, from Carmen Estate Coffee.

This new price broke the record from 2021, when it was $2,568 per pound, and thus, according to Tedman, Panama continues to lead the world market for coffee quality.

The most favorable price in the natural geisha category was for the lot “De La Rosa Mount Totumas Cloud Forest – Mount Totumas Coffee” when selling for $2,504 per kilogram ($1,135.79 per pound) and lot “Black Moon Constellation – Black Moon Farm” of the Chiroso variety stood out in the varietal coffee category, reaching $488 per kilogram ($221.35 per pound).

The auction offered 1,250 kilograms (2,755.77 pounds) of coffee at an “historical average price” of $868.22 per kilogram ($393.81 per pound), received 6,081 bids, most from Asia, and saw sales of 50 lots. at $1,085,275, according to SCAP.

Coffee represents barely 0.4% of Panama’s gross domestic product (GDP), but thanks to the production of specialty beans such as geisha, the Central American country has entered the luxury coffee market, especially in Asia.