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Panamanian specialty coffee smashes world price record

Home » Coffee » Blog » Panamanian specialty coffee smashes world price record

Geishas are famous for being shy and retiring, but in Panama they are breaking world records and even putting Brazilian beauties in the shade.

A Panamanian specialty coffee, a rare variety of the geisha plant strain, sold for a record-breaking $50.25 (U.S.) a pound in an on-line auction hosted by the Specialty Coffee Association of America late Tuesday.

At over 50 times the price of standard beans, the geisha beat the previous on-line record price of $49.75 a pound, held by a Brazilian bean.

Specialty coffee auctions gained popularity after a global slump, when prices paid on the benchmark New York "C" contract didn't cover production costs and many farmers focused on higher-quality beans for gourmet consumers that could sell at a premium price.



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