A kilogram of Ethiopian Coffee Fetches Staggering $884.10 in Auction

August 27, 2022December 17, 2022

ADDIS ABABA – A kilogram of Ethiopia’s finest coffee has sold for a staggering 884.10 US Dollars (approximately 47,236 birr) at auction.

The winning coffees of the third Ethiopian Cup of Excellence competition went under the hammer in the Alliance for Coffee Excellence auction this week.

The online auction for the finest coffees, produced by smallholder farmers in Ethiopia, was opened at 01:00 GMT on Tuesday and went on for a record-breaking 11-hour and 11-minute.

The coffee that scored the highest points at the cup of excellence competition was able to get a record-breaking price from a UAE firm.

LNK Coffee Trading DMCC paid a whopping $884.1 (or approximately 47,236 birr) for a kilogram of the coffee.

⁠”This is the highest price ever recorded for an Ethiopian coffee,” said the Cup of Excellence Ethiopia organizers.

Thirty coffees from four regions scored above an 87 by the International Jury, winning the annual cup of excellence.

A naturally-processed coffee, produced by smallholder farmer Legese Botosa from the Sidama region, ranked top, scoring the highest 90.69 points.

In total, the winning coffees, packaged in 30kg boxes containing two 15kg vacuum-packed bags, were sold at a $37.51/lb avg price per pound in the auction.

The average price is also a record for the cup of excellence.

The following is a detailed result posted by CoE Ethiopia.

$400.50/lb top bid for lot 1a (Legese Botosa Dikale) by LNK Coffee Trading DMCC – new CoE record.
Also, note that lot 1b was purchased for $400/lb by SAZA Coffee – a Japanese coffee company.
$37.51/lb avg price per pound – new CoE record
$1,370,736 total proceeds⁠

Executive Director of the Ethiopian Coffee and Tea Authority (ECTA), Dr. Adugna Debela, said the outcome of Wednesday’s auction was “an overwhelming victory for all” working in the coffee sector.

“Our farmers supplied the finest quality coffee to international buyers and secured the highest price ever recorded for an Ethiopian coffee,” Dr. Adugna said.

“This year’s COE Ethiopia final result is quite staggering which is an overwhelming victory for all of us,” he added.

Dr. Adugna also appreciated all that contributed to the success of this year’s Cup of Excellence including participating coffee farmers and regions, the staff of the Cup for Excellence Project staff and the Alliance for Coffee Excellence.

⁠National winners

A separate auction of the Cup of Excellence Ethiopia National winner auction was also concluded on Friday. The auction featured coffees that scored 85 and above points during the International Phase by the Cup of Excellence National Jury and International Jury.

The National winners were sold for $6.70 /lb. average price per pound, bringing in a total value of 118,925.79 US Dollars.

“Thank you to all bidders for your participation and support for Ethiopian producers,” said the organizers of the cup of excellence.