Lamastus Family Estates that won the two first places on the Best of Panama 2018 auction for Geisha Washed and Natural earned more than $150 000 for 90 kg of coffee. This is an amazing price in the world of Specialty Coffee.
The prices went crazy on the Best of Panama 2018 auction after last year’s $601 paid for the best coffee in Panama from Jason Kew – an Australian Chinese coffee hunter.
The Best of Panama 2018 auction lasted for more than 8 hours and finished with record prices. 49 lots of really special coffee varieties were bought by some of the best coffee trading companies in the world and brought the farmers that have cultivated them the deserved payback.
As you remember, he was the only judge from Europe in this year’s competition – a rare and hard-earned privilege that many industry insiders from all over the world still can only dream about.
Prices started from $30 per pound (approximately $60 per kg) and the record price was paid for the best coffee in 2018, found in Panama, in the Lamastus Family Estate – the Natural Geisha which was bought for $803 per pound (approximately $1600 per kg).
All lots from the famous Esmeralda farm led by the Peterson family were traded for very high prices:
Esmeralda Geisha washed – 9th place was sold for $140 per pound
Esmeralda Geisha natural – 3rd place was sold for $151 per pound
Esmeralda Traditional washed – 1st place was sold for $100 per pound
Only a few companies dared to bid in the auction. Some of them started showing interest in more than three lots and finishing with none. Most of the companies are from the Asian market, some from the USA and Europe.
The total sum in the auction paid by the buyers was around $550 000 paid for 109 boxes of 50 pounds of green coffee.
Three times the bids were placed at the last possible second and this infused the auction with more tension.
Geisha coffee neither comes from Panama nor does its name have a Japanese influence. It originates from Gesha, Ethiopia but it was in Panama where this variety has blossomed because of the high altitude and the combination of a climate and soil perfect for its needs. A little more than a decade ago it attracted the attention of coffee experts worldwide after it won the Best of Panama competition in 2004.
Read more about the winning coffees from Best of Panama 2018 on our website. Check out the official page of Best of Panama as well!