Only 28 coffee lots, which won accolades during the recent Cup of Excellence competition were sold to the highest bidders in this auction that attracted 87 coffee business dealers from around the globe.
According to the results report of this online auction, Twumba Coffee attracted the highest bid of USD41.22 (about Rwf 50,550) per Kilogramme. The bid was offered by Maruyama Coffee Co. Ltd from Japan. Twumba coffee which was also the first winner of the recent cup of excellence competition has also scooped the second top bid of USD40.12 (FRW 35,2014) per kilogramme. The bidder for this coffee is Campos Coffee, an Australian company that buys and sells coffee.
Twumba Coffee Washing Station fetched $48,757.45 (Rwf42.7 million) from 1,200 Kilogrammes, followed by Mayogi Cooperative, which reaped $9,976 (Rwf 8.7 million) from 480 Kilogrammes. All 28 lots (24.2MT) realized USD 359,226.7 (FRW315.2 million).
This auction was organized by the Alliance for Coffee Excellence (ACE) in partnership with National Agricultural Export Development Board. ACE is a New York-based organization that advances excellence in coffee through its flagship Cup of Excellence competition and auction.
Gerard Mutagengwa of Twumba Coffee Washing Station said that the auction gave him morale and determination to continue ensuring high standards of farming and coffee processing.
Eng. Eric Ruganintwali, the Quality and Regulations Division Manager at NAEB and Coordinator of Rwanda Cup of Excellence said that the auction is considered to be a reward of the efforts farmers make in order to produce these unique coffee lots.
“The internet auction system creates transparency and openness on how coffee is sold, hence increasing the confidence to the coffee owner and demystify the misunderstanding held about coffee auction process,” he said.
“The biggest proportion of the money raised during the auction will go directly to the farmers to boost their revenues and encourage them to continue producing high quality coffees,” Eng. Ruganintwali revealed.
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