Panamanian Geisha coffee fetches over $1,500 per kilo at world auction

The Best of Panama (BOP) global auction closed on September 24 with sales totaling $3,041,940, after 19 hours and 30 minutes of bidding. Mirta Rodríguez P.

The Elida Geisha Torre lot, from Lamastus Family Estates, fetched the highest price at the Best of Panama auction, which closed with sales of $3.04 million after 19 hours and 30 minutes of bidding. The Panamanian geisha reached the highest price.

There were 50 lots of premium coffee, each weighing 15 kilograms. Of the total, 40 lots were Geisha coffees, and 10 were other varieties.

The 40 lots of Geisha exceeded $1,500 per kilogram, while the other varieties registered prices above $897 per kilogram.

Eighty-three bidders from 21 countries participated in the auction. The 50 lots were awarded to 29 buyers from 11 countries: China, Japan, the United Arab Emirates, South Korea, Taiwan, the United States, Panama, Hong Kong, Saudi Arabia, Malaysia, and Canada. China accounted for 38% of the total sales value, acquiring 20 lots.

The Elida Geisha Torre lot, from Lamastus Family Estates, fetched the highest price at auction, at $18,004 per kilogram, for a total value of $270,060. The coffee was purchased by JD.com of China.