Black Gold lifts Panama Geisha price to new world record

The record price of natural geisha coffee was broken twice in the electronic auction The Best of Panama 2018. on Thursday, July 19  finally ending up at $803 a pound paid by the  Taiwanese Black Gold Coffee Co for Elida Geisha Green Natural Tip produced by the Lamastus family.

The bidding began at 6:00 p.m. on  Thursday,  and ended at 1.20 a.m.   on, Friday,

Four hours after the auction started, the Elida Geisha Green Tip coffee washing process, from the Lamastus family broke the world record paid for a pound of geisha coffee by trading at $661 a pound.

An hour later, the Elida Geisha GreenNatural Tip l coffee also from the  Lamastus family set the new record price when $803 was quoted.

The Taiwanese Black Gold Coffee Co paid $ 80,300 for 100 pounds of the coffee from the Lamastus family.

The Japanese Saza Coffee company acquired a portion of the coveted istmeño geisha by paying $ 66,100 for 100 pounds of the Elida Geisha Green Tip washing process, grown at over 1,850 meters high in Alto Quiel, Boquete, Chiriquí province.

The Longboard Windy Ridge Geisha coffee, cultivated in Alto Jaramillo (Boquete), ranked third in the electronic auction and was quoted at $216 a pound.

“The auction was a success because the average price paid for a pound of Panamanian grain was exceeded.  last year at the XXI Best of Panama 2017 the average price per pound was $62 and this year it was $92, “said Wilford Lamastus, president of the Specialty Coffee Association of Panama. (SCAP).

The traditional washing category also exceeded the previous prices for one pound of coffee. The Traditional Esmeralda, cultivated in the Hacienda La Esmeralda, Cañas Verdes, owned by the Peterson family was quoted at $100 a pound. The previous highest price in this category was $50 for one pound paid in 2016.