10 STiR coffee and tea | 2023 Issue 5 (October / November)
Panamanian Geisha Wins Record
High Price of $10,005 per Kilogram
Panama's elite coffees continue to fascinate
global buyers, as evidenced by the $10,005
paid per kilogram ($4,588 per pound) of a
washed Geisha sold by e-auction in August.
The price is the highest ever paid for a coffee
at auction.
Produced by Carmen Estate, the coffee
scored 96.5 in the Best of Panama 2023
competition held three months earlier. The
buyer was New Zealand's Coffee Tech
Company. The auction sold 25 kilograms of
this bean for a total of $250,125.
The event auctioned 1,250 kilograms of
coffee in 50 lots of 25 kg each, for a grand
total of $1,085,275. The average price per
kilogram was $868.22 ($393.81 per pound),
from 6,081 online bids. Most buyers were
from Asia. The 50 lots were selected from the
top coffees cupped at Best of Panama. These
included 18 natural Geishas, 18 washed
Geishas, and 14 lots of varietals. The washed
and natural Geishas all scored at 92 points and
above, while varietal non-Geishas, both
washed and natural, rated at 89.13 and above.
In bidding for natural Geishas, the highest
price was $2,504 dollars per kilogram, for a lot
from Mount Totumas Coffee. The top price in
auctions of varietals was $488 per kg for a
Chiroso produced by Black Moon Farm.
The Best of Panama competition, held in
May and June, was the 27th annual edition of
the cupping, organized by the non-profit
Specialty Coffee Association of Panama,
which has 50 members.
Auction was proceeded by 27th Best of Panama competition in May and June.
Panama auction prices averaged $868 per kg.
Coffee Report
