VARGINHA, Minas Gerais – The number 1 lot at Brazil’s Cup of Excellence (COE) Early Harvest live auction held online on November 27th sold at $23.10 per pound, or approximately double the price of the top coffee from the same competition in 2012.
In total, the event raised over $516,000 for Brazil’s Cup of Excellence winning farmers, an increase of more than 30% from the prior year. Gains were seen across the board with the average price of a winning coffee selling for $6.53 per pound, or 17% more than in 2012.
“Last week’s strong auction results amidst an historically weak commodity coffee market underscores Brazilian farmers’ achievements in the advancement of coffee quality,” commented Ms. Vanusia Nogueira, Executive Director of the Brazil Specialty Coffee Association.
“We were further delighted to see so many countries represented by buyers, which signals that Brazilian specialty coffees are becoming better known and more popular worldwide despite increased global competition from other origins.”
Participation was seen from buyers in Asia, Australasia, Brazil, Europe and the United States, which recorded a substantial increase in activity.
The Early Harvest competition and auction is one of two Cup of Excellence events held in Brazil each year.
The Late Harvest competition, featuring the country’s exceptional sundried natural coffees, is presently underway and will conclude with an online auction scheduled for March 4, 2014.
Both events are made possible with the support of ApexBrasil, the Brazilian trade and investment promotion agency.
For more information about the Cup of Excellence auction results and winning coffees or to participate in an upcoming auction, visit: http://www.AllianceForCoffeeExcellence.org.
About the Brazil Specialty Coffee Association
Founded in 1991, the Brazil Specialty Coffee Association is a non-profit member association created to elevate the standards of excellence and enhance value in the production and marketing of Brazilian coffees.
In addition to providing BSCA Certification for quality coffees and educational opportunities for its membership, the association implements environmental preservation projects through cooperation with private or public entities and supports the advancement of science and production techniques benefitting the global coffee industry.
In 1999, BSCA was a founding member and the original host to the Cup of Excellence competition, which operates the world’s most esteemed coffee quality contests in 11 nations.
For more information about BSCA, visit http://www.bsca.com.br.
