Lamastus Family Estates sells lot for US$4100 per pound

Lamastus Family Estates

Lamastus Family Estates in Panama has held its first private auction, auctioning 1812.5 pounds of Geisha coffee in 26 lots from its three farms Elida Estate, El Burro Estate, and Luito Estate.

The average price of the total auctioned lots on 18 August was US$188.52 per pound, featuring coffees from different microclimates, and innovative processes such as Anaerobic Slow Dry (ASD), native yeast, and carbonic maceration.

After 801 bids from 15 companies, Lot 1603-8, the Aguacatillo ASD SE01 from Elida Estate was sold for US$4100.00 per pound to BlackGold Specialty Coffee in Taiwan and Clay Coffee Collective in Beijing.

Aguacatillo is the highest point of production on Elida Estate inside the National Park, grown at 2000 metres above sea level, with only a few pounds picked in the 2021 season. The cherries underwent anaerobic slow dry fermentation for 144 hours in a sealed plastic bag.

Another special edition coffee, Lot 2602-6 from Luito Geisha Estate was sold for US$2222.00 per pound to Sulalat Coffee Trading in Saudi Arabia.

“The results of the auction exceeded our expectations,” says Wilford Lamastus Jr of Lamastus Family Estates.

“This news helps bring hope to more than 25 million families around the globe that are in the coffee growing business. Most are struggling with coffee prices, the same way we did until a few years ago.”

The rest of Lamastus Family Estates’ Geisha lots were auctioned to China, Taiwan, Saudi Arabia, Greece, Japan, South Korea, and New Zealand.

Other renowned auctions in Panama include those from local farmers Hacienda La Esmeralda and the Specialty Coffee Association of Panama.

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