Jalapaneco coffee is priced at US$138.20 per pound, in international auction

The El Morito farm, located in Mataquescuintla, Jalapa, achieved a record in the price of coffee by selling for US$138.20 per pound, at the Cup of Excellence (COE) 2022 international auction, organized by the National Coffee Association (Anacafé).

The farm began producing the grain in 1994, but since 2001 it has been producing differentiated, high-quality coffee, said José Roberto Monterroso, general manager of El Morito. For 10 years he has participated in the COE competition and although he has occupied all the top 10 positions, until this year he was in first place.

“It has been the result of a lot of effort, work, patience and persistence,” he said, recalling that each year he has invested, trained staff and implemented planting techniques, crop management and crop treatment to achieve high-quality coffee. “This achievement not only benefits us as a farm, but also helps position the entire Guatemalan coffee sector in the international market,” he added.

Also read:

El Morito cultivates an area of ​​90 manzanas, with an average harvest yield of 125 quintals per manzana. 98% is exported to Japan, Korea, China, Taiwan, Dubai (United Arab Emirates), the United States, Germany and Switzerland, among other international markets.

Monterroso clarified that the auction price is different from the daily price of the grain in the market, since as of July 20, coffee was quoted at US$2,169 per pound on the New York Stock Exchange. But the big difference is due to the fact that in the bidding event, it is quoted in small and special lots.

El Morito grows coffee at an approximate altitude of 2,000 meters above sea level and on this occasion, it competed with the Geisha variety grain, but it also produces Red and Yellow Pacamara, Caturra and Bourbon.

Market positioning

Andrea Vergara, coordinator of National and International Promotion of Anacafé, indicated the results of the recent international auction help the positioning of national coffee and “sends a strong message regarding the quality of Guatemalan coffee.”

It may interest you: Fintechs are not new, but in Guatemala some are in the initial stage, what options can be explored and taken advantage of?

And that both the price obtained by El Morito, and the national average, broke records. Until now, the average price at auction was US$26.50 per pound, while in this edition it was US$31.50 per pound. “These results are the product of the effort and work of the producers and the continuous documentation of cultivation and harvesting processes.”

In this edition of the COE, among the coffee farms that achieved the highest prices after El Morito are: El Injerto I (Huehuetenango), US$111.10 per pound; Rosma (Huehuetenango), US$77.10; La Reforma and Annexes (Huehuetenango), US$61.70; The Big Apple (Huehuetenango), US$50.10 and El Paraxaj de Chimaltenango, US$37.60.

About Cup of Excellence

Guatemala has been participating in the COE since 2001 as a route to the specialized international coffee market, beginning with the national competition for differentiated coffees. The samples are evaluated throughout a tasting process of more than three weeks, in charge of industry experts.

Also read: These are the best-selling coffee drinks in Guatemala (and the places where the bean is grown)

In the first phase, a national jury made up of qualified tasters from the country of origin select the coffees, then an international jury, made up of experienced tasters from around the world, choose the best ones for the auction.

Data of interest

  • In Guatemala, 98% of the coffee is grown under shade and harvested by hand, in an artisanal way.
  • Since its first edition in 2001, the COE has auctioned 451 lots (1.1 million pounds of coffee) equivalent to US$10.1 million.

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button