Cup of Excellence Nicaragua 2024: Breaking Records Again in Coffee Sales

Today, June 20th, in the city of Managua, the National Commission for the Transformation and Development of Coffee Growing (CONATRADEC), in coordination with the National System of Production, Consumption, and Commerce (SNPCC) and with international support from the Alliance for Coffee Excellence (ACE), along with the winning producers, held the electronic auction to market the top 30 best coffees chosen by the International Jury as part of the Cup of Excellence Nicaragua 2024 competition.

The event was attended by our SNPCC Authorities, Comrade Miguel Obando, National Co-Director of INTA; Comrade Ivania León, Vice Minister of MAG; Comrade Jesús Bermúdez, Minister of MIFIC; Comrade Ricardo Somarriba, National Director of IPSA; coffee producer Mr. Gonzalo Castillo, and Mr. Douglas Pilarte from the Financial Sector, National Members of CONATRADEC, and Eduardo Escobar, Executive Secretary.

Comrade Obando highlighted the efforts, achievements, and impacts that our coffee growing sector has been reaching with the support of Our Good Government, new markets, better prices, and the continued commitment to serve our people and our producers.

Among the results and achievements obtained are:

The entire Cup of Excellence competition consists of several stages, starting in January with the selection of a panel of 12 Cuppers as the National Jury of the best in the country. Out of 165 samples received from more than 20 coffee-producing municipalities, 75 were pre-selected, and 40 of these advanced to the International Evaluation with scores higher than 86, an excellent and consistent score, allowing them to enter the electronic auction.

There were 2,577 bids to buy our coffee from over 100 international buyers and companies registered from countries including Australia, Canada, China, Denmark, France, Germany, Japan, Italy, Norway, Saudi Arabia, South Korea, China, the United Arab Emirates, the United Kingdom, and the United States.

Nicaragua broke records by achieving a maximum price of $10,900 per quintal, the highest ever!

The auction surpassed the longest duration in history, totaling more than 7 hours with over 2,577 bids to purchase the 30 micro-lots of coffee by more than 100 international coffee companies and buyers from Australia, Austria, China, France, Germany, Italy, Japan, Lithuania, Norway, Saudi Arabia, South Korea, the United Kingdom, and the U.S.

Additionally, the average prices surpassed all previous records, reaching $16.90 per pound.

The auction also featured a demonstration fair of specialty coffees, where our participants presented finished products, individual and collective brands, representations of dry benefits, as well as representatives of the four Coffee Origin Denominations of the country: DO Café Ometepe, DO Café Cuspire, DO Café Dipilto, and DO Café Wiwilí, to continue consolidating the prestige of the high quality of our coffee and exploring new markets.

Source: 19 Digital