The Lamastus Family Estate in Panama has set a new record for the highest price ever paid for coffee at its auction hosted by M-Cultivo, with the top lot selling for US$13,518 per kilogram to Korea’s Cupping Post.
The three-kilogram lot was an Elida Geisha Honey Aguacatillo, a rare coffee grown within a national park. The auction sold 25 lots for a total value of US$274,504, recording an average lot price of US$401.91 per kilogram and a lowest lot price of US$175 per kilogram. Two lots exceeded valuations of US$1000 per kilogram.
The Lamastus Family Estate has produced coffee in Elida Estate for four generations. Since it was established 1918, it has gained international attention for its award-winning Panama Geisha coffees.
“People around the world appreciate quality, and as coffee farmers for 106 years and four generations, we are dedicated to that excellence,” says Wilford Lamastus Senior, part of the Lamastus Family Estate.
“The willingness to pay high prices and break our own records speaks volumes about the exceptional quality of our unique Aguacatillo lot. Our entire team is honoured and thrilled by the appreciation from Cupping Post and all the other bidders. It truly means the world to us.”
Tommy Lee of roasting company Cupping Post believes the price was right.
“Aguacatillo is, without a doubt, the most remarkable coffee I’ve ever tasted in my life,” he says.
“It embodies the pinnacle of high-end coffee. If I were to give a coffee a perfect score of 100, it would undoubtedly be for this one.”
Auction host and coffee supply chain company M-Cultivo recognises the gravity of the auction’s record-breaking event as a sign of forward momentum in the coffee industry.
“We’re honoured to support the Lamastus Family Estates as they continue to innovate and break records within the specialty coffee industry,” says M-Cultivo CEO David Paprelli.
“Creating avenues for producers to achieve success year after year is at the heart of M-Cultivo’s mission.”
