Auction of CoE Brazil winners reaches AU$343,000
The Brazil Specialty Coffee Association (BSCA) has announced the auction of the best specialty coffee in Brazil involving the winners of the Cup of Excellence (CoE) 2022, reached a total of AU$343,221.87.
Divided into two lots, the first place coffee produced by Antonio Rigno de Oliveira Filho’s from Fazenda Tijuco, in Piatã, Chapada Diamantina, Bahia, had the two highest bids at the auction. The first value was equivalent to AU$8177 per 60-kilogram bag (about US$43 per pound) and the second one at AU$8158 per bag (about US$42.9 per pound). Antonio took top prize with a sample from the Catuaí variety, with a score of 91.41 points.
The event took place on an online platform, where the public could bid on the 24 winning coffees of the international phase of CoE 2022, held by BSCA in partnership with Brazilian Trade and Investment Promotion Agency (ApexBrasil) and Alliance for Coffee Excellence (ACE).
The first five batches, deemed the ‘Presidential’ category after obtaining more than 90 points in the competition, were acquired by companies from Italy, Greece and Japan.
“It is great to see the Italians and Greeks bidding for Brazil’s highest quality specialty coffee again at our annual auction. This is a trend that we had previously observed before the pandemic, but had stopped over the last three-odd years,” says BSCA Executive Director Vinicius Estrela.
The average auction price was AU$2310 per bag (about US$12.15 per pound), representing an increase of 711 per cent in relation to the New York Stock Exchange price.
“We had 1614 bids from dozens of companies from all over the world in an auction that lasted approximately five and a half hours. This shows that our coffees increasingly meet the expectations of the largest and most demanding global consumers, delivering diversity, quality and, above all, socially responsible and sustainable coffee,” says Vinicius.
For more information, visit the BSCA website.
Source: Bean Scene Mag