Portland, Oregon USA (June 23, 2017) The Cup of Excellence winning lots were auctioned on June 22nd for a record average price of $ 16.24per lbs. All 24 winning lots sold well above the $5.50 per pound with the first-place coffee from Oscar Daniel Ramirez Valerio’s El Laurel, selling for an all-time COE record at $124.50 per pound to buyer Maruyama Coffee Company of Japan. “This is our first time participating in COE. It has been a really good experience for me and my family. I am very happy and I did not expect getting this price. I am going to invest in my farm and produce more and better coffee,” says Oscar Valerio. This year’s results solidify Honduras’ place as a top specialty producer in Central America. It’s no coincidence that last year’s record breaking coffee also came from Honduras. IHCAFE (Instituto Hondureño del Café) and the Alliance for Coffee Excellence have worked very closely together since 2004 with the mission of recognizing and promoting the highest coffee qualities the country has to offer. IHCAFE and the Honduran government have taken great strides in supporting the coffee sector through its various programs focused on production, productivity and quality. As of 2014, according to a Technoserve report, well over 30 million dollars in added benefits to small holder farmers have been created due to the partnership with Cup of Excellence and IHCAFE. It is estimated that this has amount nearly doubled since the report was issued January 2015.
The weighted average price surpassed the 2016 auction with a record setting $16.24 per pound. All coffees sold above $7.99 per pound with the opening floor starting at $5.50 per pound.
Roasters and Importers from Taiwan, United Kingdom, Korea, Japan, Norway, Australia, China, United States, Indonesia, Saudia Arabia and Singapore bid for over 3 hours to secure a lot. The international jury was represented from Guatemala, Australia, Indonesia, Norway, Japan, South Korea, and the United States. Lots in this auction had been cupped at least 5 times by the national and international jury and had scored between 86 and 91.81 points. This year multiple varieties and processes to the very stringent competition winning lots included the winning washed Parainema. Other winners included Pacamara, Catuai, Pacas, Bourbon, Lempira, IHCAFE-90, Ruiru 11 and one natural processed Catuai. Each coffee scoring 90 points and higher were split into two lots for the auction; this year there were 3 Presidential award winners scoring above 90 points.
“2017 is proving to be an important year for Cup of Excellence as it continues to deliver on its core mission of building higher prices for farmers. With Honduras breaking the record, it sends a strong message to the specialty coffee world of its unique place as a top coffee producing country,” declared Darrin Daniel, Executive Director of the Alliance for Coffee Excellence.
About Alliance for Coffee Excellence & Cup of Excellence®
Alliance for Coffee Excellence is a non-profit global membership organization dedicated to advancing excellence in coffee. Cup of Excellence, a program which gives out the most prestigious award in coffee, has affected thousands of farmers. Its unmatched focus on quality discovery, farmer premiums and transparency has changed the specialty coffee industry. For more information about membership, juries and to register for the Cup of Excellence or national winning samples and their auctions log on to allianceforcoffeeexcellence.org. Upcoming 2017 auctions include: Mexico, Guatemala and Honduras.