Record-breaking Auction for Nicaraguan Coffee Farmers

Tania Gabriela Ferrufino Norori. Photo courtesy of Cup of Excellence

This year’s Nicaragua Cup of Excellence broke records, with the auction coming to a close with the average price per pound being over $12 USD. 

The new average price per pound high for Nicaragua’s competition hit $12.08/pound, with the original record being $10.89/pound in 2017, according to the Alliance for Coffee Excellence.

While several bidding wars occurred, the top coffee with a score of 91.2 sold with a high bid of $36.90. Maruyama Coffee (Japan), Cometeer (USA), Goodboybob Coffee (USA), Sugi Coffee Roasting, Harrods (UK) paid $36.90/lb for 1a, half of the lot. The other half, 1b, was purchased by Takamura Coffee Roasters in Japan for $30.30/lb.

The third-ranking coffee, a washed Maracaturra created by Luis Emilio Valladarez, had 117 bids. Terarosa Coffee from South Korea won with $20.20/pound.

Miguel Obando, National Co-Director for Nicaraguan Institute of Agricultural Technology, said in a virtual press conference, “We are thankful for the participating buyers who believed in Nicaragua. Today is a celebration to recognize the efforts of farmers from bean to cup.”

For more information on the auction, visit allianceforcoffeeexcellence.org