According to the New York Times, this is one of the highest prices ever for coffee.
In an online auction taking place on June 19, a batch of fresh coffee beans produced by a famous coffee farm in Guatemala was sold for 500.5 USD/pound, equivalent to 1,102 USD (more than 23 million VND)/kg. According to the New York Times, this is one of the highest prices ever for coffee.
Moka Coffee (Illustration)
This special coffee is a product of Finca El Injerto farm in the Central American country of Guatemala. The auction has helped strengthen this farm’s position among the world’s top coffee farms.
El Injerto, a farm owned by the Aguirre family since 1874, specializes in supplying fresh coffee to small but special coffee roasters manufacturing the world’s special and famous products. Coffee from El Injerto farm also won the title in the Guatemala Cup of Excellence coffee competition in 2006, 2008, 2009, 2010 and 2012.
The aforementioned batch of coffee with the “huge” price of El Injerto is 100% Moka coffee. This is a rare coffee variety, originating from Yemen, which has been passed down for many generations. Moka coffee beans are characterized by being very small and having a different shape compared to other types of coffee. This type of coffee beans are only 1/3 the size of regular coffee and look like lentils. Therefore, Moka coffee is ranked among the strangest and rarest coffees in the world.
In this auction, El Injerto farm brought in 8 pounds (about 3.6 kg) of Moka coffee and collected the amount of 4,004 USD.
Several other coffees from El Injerto participating in this auction also achieved high prices. A 75-pound batch of Geisha coffee, a variety known for its delicate fragrance like perfume, was sold for $81.5/pound, or equivalent to $180/kg. The value of this whole lot of coffee is 12,275 USD.
This year is the second year El Injerto farm harvests Geisha coffee. This coffee variety is associated with the name of another famous coffee farm, Hacienda la Esmeralda in Panama.
la Esmeralda, a farm owned by the Peterson family, broke all records in 2004 when a batch of their Geisha coffee was sold for $21/pound, or more than $46/kg. At that time, the price of premium coffee beans was only about 2.5 USD/pound.
In 2007, a batch of la Esmeralda’s Geisha coffee was priced at $130/pound, or $286/kg. In 2010, the highest price for a batch of Moka coffee of this farm was up to 170.2 USD/pound, equivalent to 375 USD/kg.
Since then, la Esmeralda’s coffee prices have been in the fairly stable range. In this year’s auctions, the farm’s most expensive batch of coffee was $65.5/lb, or $144/kg, the cheapest batch, priced at $29/pound, or $64/kg.
According to Vneconomy
