May 30, 2007

$130US per lb!!!

How amazing is that!!! The Best of Panama auction was held yesterday and last year's winner won again with a never seen before 96.4 - ¡Ay, caramba! Hacienda La Esmeralda's final bid-price was $130US per lb of green bean - think about it, that still has to get in-country and roasted up (which will strip some moisture/weight out) and when it's all turned to brown and packaged up that might be a 1lb bag selling for over $160Cdn before profit gets applied. How much profit do you apply??? Do you sell it at cost to educate the market or treat it as a marketing platform or try to turn a profit?

I for one will be interested to see how the various players within the consortium, that bought the Esmeralda, move it into the market. What a story!

Good news for me out of the auction is that I am getting 15lbs of the Nono Crespi which is apparently more Kona than Kona and according to Greg (the winning bidder) it cupped for him at a 91 and was described as "smooth buttery body, caramel, cherry, Kona-like". Greg has always nailed it in the past so big thanks to Greg for making it happen.


Dawn said...

Me thinks that perhaps some people out there have way too much $$ in their pockets! for 130 per pound, couldn't one just buy the plantation the beans are grown on and save all the trouble of bidding?!! Cheers!