"What Makes $32,000-per-Kilogram Coffee So Special? Frenzy as Price Triples but Demand Still Outpaces Supply"

Harvested at High-Altitude Farms, Unique Flavor Gains Popularity
UAE's Julius Coffee Wins Record-Breaking Bid

Panama Geisha coffee beans, often referred to as the "coffee of the gods," were sold at an all-time high price at an international auction.

On August 8 (local time), Yonhap News reported, citing an announcement from the Panama Tourism Authority (ATP). The La Esmeralda farm, located in Boquete, Chiriqui Province, Panama, submitted washed Geisha coffee to the "Best of Panama" coffee auction held the previous day. The beans were sold for $32,204 per kilogram (approximately 42 million KRW).

This amount is three times higher than the previous record price of $11,103 set last year. The winning bidder was Julius Coffee, a company headquartered in Dubai, United Arab Emirates (UAE).

Panama Geisha coffee beans were sold at an all-time high price at an international auction. Photo by Pixabay

Geisha coffee is beloved by coffee enthusiasts worldwide for its distinctive floral and fruity aroma and smooth body. Among Geisha varieties, Panama Geisha originated as a coffee cultivar discovered by Richard Whalley in the Geisha forest of Ethiopia in 1930. After originating in Ethiopia, Geisha coffee was introduced to Costa Rica and then delivered to La Esmeralda farm in Panama by an agricultural delegation from Boquete in the 1960s.

La Esmeralda, which cultivates beans in the Ca?as Verdes, El Velo, and Jaramillo regions, is renowned in the coffee industry as a leading producer of the Geisha variety. The record-breaking Geisha coffee was harvested at the El Velo farm, located at an altitude of 1,650 to 1,900 meters above sea level. The unique flavor profile created by the altitude and climate received high praise.

Through Instagram, La Esmeralda farm stated, "We overwhelmingly surpassed all world records at this auction," adding, "Of the 50 lots we submitted, 30 lots sold for over $1,000 per kilogram."

Meanwhile, buyers from around the world?including Korea, the United States, China, Japan, France, Germany, Switzerland, Saudi Arabia, Indonesia, and Thailand?participated in the auction, leading to fierce competition.