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Press Release Details |
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Cup of Excellence Coffee Auction Bucks Recession Trend
The Colombian Cup of Excellence auction, held April 23, 2009, set a record despite the difficult economic environment when US-based Target bidding through Coffee Bean International of Portland bought the first place winner for $21.00/lb. The previous record set in 2007 was $19.20/lb. The winner, from the El Porvenir farm received an overall cupping score of 91.68 during the international cupping competition held in March. Target and Coffee Bean International also bought the second place coffee from the Bellavita farm for $13.10/lb. Target plans to roll out these special edition coffees in late summer under their high quality Archer Farms Brand. Timothy Mantel, Vice President and General Merchandise Manager for Target explains that, “Target customers appreciate fine coffee. Target has taken an interest [in Cup of Excellence] as a means to reward farmers for growing outstanding coffees, to acknowledge those that use sustainable farming practices, and to offer our philanthropic support for work in the coffee growing areas."
Bidding became especially heated during the last half hour, as roasting companies and importers around the world competed for the top placed coffees. While winning Colombian coffees are destined for points around the world including the US, UK, the Netherlands, Australia, New Zealand, Spain, Denmark, and Austria, the majority will be going to Japan, where consumer demand for Cup of Excellence coffee remains very high.
“We are thrilled for the farmers with the success of the Colombian auction and feel this will help build momentum for all 2009 Cup of Excellence programs,” says Susie Spindler, Executive Director the Alliance for Coffee Excellence, Inc. “It is great to know that despite the global economic climate, coffee drinkers worldwide still appreciate the nuances of exemplary coffee and feel these coffees are a superior value."
The next Cup of Excellence competition is scheduled for April 26 – May 1 in El Salvador. The winning coffees will be auctioned on June 4.
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