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Costa Rican Geisha sets new record price at Cup of Excellence action

Photo Credit: ICAFE

Winning lots of the Costa Rica’s of Cup of Excellence set a new record for a single coffee in the history of the competition. In the auction held on July 10, the beans of Luis Ricardo Calderon Madrigal’s Don Cayito estate closed the bid at an astounding $300.09 per pound.

“With a lot of 529.11 pounds of the Geisha variety, and a honey type processing, it broke the world record established in 2017 by Brazil at $130.20.

A conventional coffee sells today in the international market (New York Stock Market) in close to $1.15 a pound; for this auction of specialty coffees the base price was of $5.5 a pound”, explains the Costa Rican Coffee Institute’s (Icafe) press release.

The total value of the lot was of $158,780.62.

Luis Ricardo Calderon Madrigal won the national competition with 91.29-points for a Honey processed Geisha.

The Don Cayito estate is located in Copey de Dota, in the San José province.

The second highest price paid was also for Don Cayito coffee, at $111.21 per pound, 529.11 pounds for a total value of $58,842.32.