Saturday 13 July 2024
  • La Cimbali

Specialty coffee at auction in Colombia sold at record price of $120.50 per lb

In the international auction of the best lots from the Colombia, Land of Diversity competition, which took place within the framework of the Colombian Northeast Coffee Fair, in the Santander capital, 67 bidders from countries as diverse as China, the United States and Colombia took part

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BUCARAMANGA, Colombia – The international auction of the best lots from the 8th edition of the Colombia, Land of Diversity competition continues setting new price records, attracting more and more interest among bidders eager to acquire the country’s best specialty coffees.

For the coffees from this eighth edition of the competition, in a lively auction with national and international bidders, an average record price of 22.77 USD/lb was reached, while a lot of the coffee produced by Domingo Torres, from Ragonvalia, North of Santander, reached a historic highest price of 120.50 USD/lb, acquired by Koffee Kult, from the USA.

“These excellent results fill us with pride, as they confirm that Colombian coffee is one of the most sought after. And they also translate into better income and prosperity for the families that produce them, which is a priority in the institutional roadmap,” the CEO of the Colombian Coffee Growers Federation (FNC), Germán Bahamón, said, congratulating himself on the good prices achieved.

In the auction, which took place on May 12th within the framework of the Colombian Northeast Coffee Fair, in the Santander capital, 67 bidders from countries as diverse as China, the United States and Colombia took part.

The second-best price, 96 USD/lb, was for a lot produced by Martha Cecilia Camacho, from Curití, Santander, who had won for the most exotic coffee in the competition, in addition to being the winner of the 17th Santander Best Cup of Coffee contest.

And the third highest price, 93.50 USD/lb, was also for a coffee lot from Domingo Torres, who offered his produce in two different lots.

In tune with the accelerated growth in demand for specialty coffees, and as a pioneer in that industry, Colombia has shown the world its great potential to offer a great diversity of highly differentiated coffees of the highest quality, hence the name of the competition.

And as part of its value strategy, which aims at coffee growers’ prosperity by offering the best coffees to customers and consumers, the FNC has been promoting and making visible an increasingly rich and varied portfolio of specialty coffees.

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