The Ethiopian Cup of Excellence auction made a remarkable comeback on August 27, surpassing the previous record set in 2022.
Los Angeles-based specialty roaster Angelino’s secured the highest bid at $445 per pound, marking a new benchmark in the auction’s history.
Kirk Bedrossian of Angelino’s expressed his excitement, stating, “We’re absolutely ecstatic to break a record with Ethiopia. This milestone celebrates the extraordinary craftsmanship of the farmers and the incredible efforts of the Cup of Excellence team. Being part of this historic moment is beyond thrilling, and we can’t wait to share these exceptional coffees and honor their incredible journey.”
Bedrossian acquired the beans from Basha Bekele Butusha, the winning farmer. Butusha reflected on the achievement, saying, “This is a dream come true. The price our coffee fetched at the auction is beyond our wildest expectations. It’s not only a victory for us but for all Ethiopian coffee farmers. We are deeply honored that our hard work has been recognized globally. This success motivates us to continue producing the best coffee possible and we eagerly anticipate the future of Ethiopian coffee.”
The auction featured 29 lots and lasted nearly nine hours, with an average price of over $24 per pound. According to the Cup of Excellence, the auction’s record prices not only reward individual farmers but also contribute to the development of entire communities and regions. The program, now in its 25th year, aims to incentivize high-quality farming and foster transparency, thereby building marketplace support and encouraging the prosperity of exceptional coffee producers.
You Might Be Interested In:
