Panama's Geisha Coffee sets new record at auction

Panama's Geisha cafe remains one of the most quoted in the world. At the annual electronic auction Best of Panama (BOP) set a new record on August 7, 2024, reports E&N.

Japanese company Saza Coffee paid US$4,541.83 for the pound (about $10,013 per kilogram) from the Elida Geisha Natural Tower of the Lamastus Family Estate estate.

This coffee of the natural Geisha variety cultivated over the 1950 meters above sea level and fermented in a special bag sealed for two days, with a unique process, dried in a dark room with the temperature and humidity controlled, provided extraordinary quality in the natural process, obtained 3,411 offers and was bought at a total cost of US$200,260.00 dollars, said the Panama Special Coffee Association (SCAP), organized by the BOP.

Panama surpasses its own record set in 2023, with $10,005 a kilogram of coffee from the Geisha variety, all despite the great foreign exchange difficulties of international currencies in Asian markets.

In its version of 2024 it offered a total of 36 batches of coffees of the geisha variety, 18 of them in the process washed and 18 in natural process, along with 14 lots of varietals (cafe of non-geishal varieties).

SCAP President Hunter Tedman commented that the electronic auction was held for 11 hours and 10 minutes, registering a total of 18,878 offers.

The second best price was US$10,002.00 per kilogram (US$4.536.84 per pound) for the Kaizen lot of the Lorayne Estate in Boquete and presented by Marcus Durán Rosas.

Another world record is claimed by the varietal lot Black Moon Constellation - Black Moon Farm, of the Chiroso variety, with US$1,630.00 per kilogram (US$739.36 per pound), the first coffee of a non-Geisha variety that achieves the historical price the surprise of the BOP 2024, which reached the historic score of 94.13 points in the recent International Cata of last June, characterized by its fruit intensity but with floral notes different from those of the geishas, very delicate and unique that together with a new process, He accentuated his sweetness in the cup.

"People appreciate quality. Quality is what the world is looking for and with the level we are with the Geishas of Panama indicate that they appreciate quality year after year," said Wilford Lamastus, owner of the Elida Geisha Natural Tower of Lamastus Family Estate, when the electronic auction closed.