Best of Panama competition and auction sets new lot record
Image: Carmen Estates
Since 1996, the Best of Panama has represented an opportunity for local estates to promote the quality of their harvests. This competition is overseen and judged by national and international experts in the specialty coffee industry.
The Best of Panama is a platform developed to support Panamanian coffee growers in promoting their high-quality coffees through the evaluation of the coffee lots in various stages of the competition. This event is 100% designed and organised by the Specialty Coffee Association of Panama.
This year’s competition selected the top 50 lots with scores of 92 or higher for Geishas (washed and natural) and scores of 89.13 or higher for Varietal non-Geishas (washed and natural). These 50 lots were auctioned by Sensible Coffee on August 29th and 30th, lasting for 11 hours.
A total of 6,081 bids were placed, resulting in an average coffee price of USD $868.22 per kilogram across the 50 lots. The 1,250 kilograms of coffee from these lots, when auctioned, achieved an astounding total value of $1,085,275.00, setting a new record for the Best of Panama event. Comparatively, in 2022, the Best of Panama Auction generated a total revenue of $1,058,581.00 by selling 5,000 lb among the 50 lots offered.
With cupping notes of Floral, jasmine, sweet orange, lemongrass, and sugarcane, this lot has now broken the record for the most expensive lot in the Best of Panama Competition, with a total value of $250,125.00. The buyer of this highest-value lot in 2023 was a purchasing collective represented by: Coffee Tech Limited (NZ)/coffee-tech.co.nz; SAZA COFFEE; 格米莱GEMILAI /Corrima coffee machine; CHG & MoveRiverCoffee.公子高.lzkngy; Difference Coffee; and L’escargot d’or cosmetocafe, The Espresso Lab.
Sensible Coffee stated that it is both amazed and deeply grateful for the incredible support it has received from its partners and buyers. An auction of this magnitude requires intensive efforts from everyone involved, explained Sensible Coffee, and the results it has achieved leave it “not just satisfied but truly thankful.” Competitions like this not only offer new producers the opportunity to be discovered but also acknowledge the tireless efforts of those who have been on this path for many years, working diligently to produce exceptional coffee.
If you want to check the results of this auction, please visit: auction.bestofpanama.org/en/lots/auction/best-of-panama-2023