ADDIS ABABA – Ethiopian will activate a new ‘Micro Lot Coffee Trading Platform’ to trade premier coffee as of next Monday, officials said.
The Coffee & Tea Authority and the Ethiopian Commodity Exchange (ECX) expect the platform to give coffee famers an alternative coffee market that will give their product premium price.
It will be used for the first time on Monday by trading coffees that won this year’s Cup of Excellence (COE) – the Premier Coffee Competition.
Organizer of the competition, Alliance For Coffee Excellence, has already revealed 30 Cup of Excellence winners and 9 National Winners after testing 1,849 samples submitted by individual coffee farmers and farmers’ associations.
The 30 Cup of Excellence winner coffees scored above 87 by the Cup of Excellence Global Coffee Centers while the national Winner lots are coffees scoring 85+ points during the International Phase by the Cup of Excellence National Jury and International Jury.
According The Coffee & Tea Authority, the coffee that score 85+ points through tests will be tradded via the platform.
The winning coffees are currently stored in special warehouses located in Addis Ababa, Hawassa and Jimma cities.
Officials plans to hold trading through the micro Lot coffee trading platform once in a month.
It will enable coffee growers get premium price for their exemplary coffees, said Adugna Debela, Director General of the Authority.
The top-scoring coffee in the cup of excellence competition last year was a subject of international auction on June 25, and sold at a staggering price of $407 or 13, 838 birr per kilogram to Maruyama Coffee Co. Ltd from Japan.