Auction of the best specialty coffees in Brazil yields R$ 1,2 million

The auction of the best specialty coffees in Brazil, harvested in the 2022 harvest, yielded a total of *R$ 1,218 million (US$ 238.746,43) in a virtual auction that took place yesterday (12), via the internet, which offered the Cup champion lots of Excellence, the world's main quality competition, held by the Brazilian Specialty Coffee Association (BSCA) in partnership with the Brazilian Export and Investment Promotion Agency (ApexBrasil) and the Alliance for Coffee Excellence (ACE).

Divided into two lots, the coffee produced by Antonio Rigno de Oliveira Filho, at Fazenda Tijuco, in Piatã, Chapada Diamantina, Bahia, had the two highest bids in the auction. The first received an amount equivalent to *R$29.015 per 60 kg bag (US$43 per pound) and the second to *R$28.947 (US$42,9 lb-weight). Together, both yielded total revenue of *R$202.862 (US$39.769,12).

By way of comparison, these bids imply substantial increases of 2.778% and 2.771%, respectively, over the closing price of *R$ 1.008 per bag (US$ 1,4940 lb-weight), on the same day, on the New York Stock Exchange, the world's leading coffee trading platform. The average auction price was *R$ 8.198 per bag (US$ 12,15 lb-weight), representing an increase of 713% in relation to the NY price. Click here and check out the full results of the auction.

The first five lots, considered presidential for having obtained more than 90 points in the Cup of Excellence 2022, were acquired by companies from Italy, Greece and Japan. "Having Italians and Greeks among these buyers could signal the return of the consumption of high quality coffees by Europeans, a trend that we were observing pre-pandemic, which has been retracted in the last almost three years", points out Vinicius Estrela, executive director of BSCA.

He also highlights the great competition for the best coffees produced in Brazil in the 2022 harvest. "We had 1.614 bids made, by dozens of companies from all over the world, in an auction that lasted approximately five and a half hours. This shows that our coffees qualify, increasingly, to the desires of the largest and most demanding global consumers, delivering diversity, quality and, above all, environmental and social sustainability", he concludes.

Cup Of Excellence

Created in Brazil in 1999, the Cup of Excellence is the main quality competition for specialty coffees in the world and is part of the actions of the sectoral project "Brazil. The Coffee Nation", developed in partnership by BSCA and ApexBrasil. Currently, through cooperation between the Association and ACE, the competition is held in several countries, increasing the demand for the best grains harvested in each harvest so that they can be sold through international auctions.

Brazil. The Coffee Nation

The sectoral project "Brazil. The Coffee Nation" is carried out by BSCA and ApexBrasil with a focus on the commercial promotion of the national product in the foreign market. The objective is to reinforce the image of Brazilian grains around the world and position the country as a high quality supplier, using cutting-edge technology resulting from research carried out.

The current project's target markets are: i) South Africa, Australia, China, South Korea, United Arab Emirates, Spain, United States, France, Japan, Malaysia, Poland, Russia and Taiwan for specialty raw coffees; and ii) Canada, Chile, China and the United States for products from the roasting and grinding industry.

The project also aims to expose the exclusive certification and traceability processes adopted in the national production of specialty coffees, highlighting their socio-environmental responsibility and incorporating a competitive advantage into Brazilian products. Companies that are not yet part of it can obtain more information directly from BSCA, via telephone (35) 3212-4705 / 99824-9845 / 99879-8943 or email info@bsca.com.br.

* Dollar quoted at R$ 5,101, as of 12/01/2023.