100 Bidders from 17 Countries and Regions Vied for 49 Lots at Singapore Specialty Coffee Online Auction
SINGAPORE, Oct. 6, 2020 /PRNewswire/ -- 100 bidders from 17 countries and regions joined the Singapore Specialty Coffee Auction held on 1 October 2020 virtually for the first time. The event saw some modest prices going to the Geisha bean variety from Panama. MD Estate Coffee Inc's Geisha beans from Boquete Panama sold at the highest bid price of US$64.50 per kilogram to Seed & Virtue Pte Ltd, Singapore.
Organised by the Singapore Coffee Association (SCA) in partnership with Food&HotelAsia (FHA), the virtual auction saw bidders from Australia, China, Hong Kong, India, Japan, South Korea, UAE and USA vying for 49 lots of specialty coffee. The auction was closely watched on socials, garnering up to 5,200 views.
Santa Elena Estate's Geisha beans received the second highest bid of US$56 from CoHee Limited, Hong Kong. Finally, Yellow Catucaí from Guariroba Farm, Brazil was sold at US$25 to a bidder from Japan. Other lots that received intense interest from bidders include:
- CAT-129 variety from Ngoli Estate, Zambia (highest jump from US$7 to close bid at US$16)
- F1 Centroamericano, Hy-04 Natural varieties from La Margarita, Costa Rica
- Caturra / Catuai varieties from Finca Santa Teresa, Panama
- Arabica Catuai variety from Finca La Valentina, Panama
Intense discussion on climate change and coffee production
The webinar "Effects of Climate Change on Coffee Production in ASEAN", held on the same day prior to the auction, saw 133 attendees from 22 countries and regions and over 2,400 social views. Discussion centred on the impact of climate change on coffee farming in the region and how farmers can mitigate the damage caused to the industry in Southeast Asia. Industry professionals from Starbucks, a coffee industry expert based in Vietnam, and BSR deep dived into the issue and shared their views on how farmers and businesses can help reduce climate impact. From understanding business risks to analysing the different factors such as energy use and mono crop culture that affect coffee farming communities around the world, the experts agreed that the impact of climate change can be resolved through openness and collaboration among all the stakeholders.
#SGCoffeeAuction2020 #singaporecoffee #FHA
Photos from webinar and auction available for download here.
Notes:
- Participating producers hail from 12 countries - Brazil, Colombia, Costa Rica, Guatemala, Indonesia, Kenya, Myanmar, Panama, Peru, Timor Leste, Venezuela and Zambia.
- Bidders are from 17 countries and regions - Australia, Bangladesh, Cambodia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Myanmar, Nepal, Philippines, South Korea, Singapore, UAE, USA and Vietnam.
About Singapore Coffee Association
The Singapore Coffee Association (SCA) was established in the late 1950's by a group of pioneering coffee traders. During the ensuing years, coffee trade developed rapidly due to the enterprise and hard work of the traders. Singapore gained recognition as one of the coffee centres of the world. Today, as a result of the transformation, Singapore Coffee Association's membership represents all sectors of the coffee industry, from green coffee supply chain providers, international and national roasters to well-known coffee retailers.
About FHA-Food & Beverage
The platform of choice for industry professionals, including distributors, importers, manufacturers and retailers from Asia to see and source for high quality, new-to-market food ingredients, drinks, fresh produce, services and equipment across three key profiles – Food & Beverage, FoodTech and Restaurant, Bar & Café. More than 80 per cent of the 2,000 exhibitors participating in FHA-Food & Beverage are renowned manufacturers and brands hailing from 100 countries and regions. ProWine Asia (Singapore), a satellite event of the highly successful ProWein in Düsseldorf, Germany, will return for its third edition alongside FHA-Food & Beverage. For more information, please visit www.fhafnb.com.
About FHA-HoReCa
Where world's leading hotels, restaurants and café suppliers will gather to showcase the latest foodservice & hospitality equipment, products and services across five main segments – Bakery, Pastry & Gelato; Foodservice & Hospitality Equipment; Hospitality Style; Hospitality Technology; Speciality Coffee & Tea – serving discerning distributors, importers, manufacturers and retailers from Asia, all under one roof. For more information, please visit www.fhahoreca.com.
Appendix - Quotes
"This first time ever virtual micro lot specialty coffee auction has once again placed Singapore on the world coffee map as a premier coffee trading hub. We are pleased with the healthy participation rates for both the auction and webinar, and how the event has brought the global coffee community even closer. It has been a great partnership with FHA and we are looking forward to the next collaboration," said Mr Victor Mah, President, Singapore Coffee Association.
Mr Martyn Cox, Event Director of FHA-HoReCa and FHA-Food & Beverage said, "The partnership with SCA has been fruitful and we are pleased to see the community gathering to support the coffee producers. It is in these challenging times that we see how innovation and technology can help to sustain and spur the industry."
"We are delighted with the results of the auction. This certainly proves that there is a market for the Panamanian Geisha beans in Asia. The virtual auction has also enabled us to reach out to buyers all over the world and market our coffee to even more consumers. We are grateful for the opportunity and would like to thank the Singapore Coffee Association and FHA for organising this well-run event,"," said His Excellency Luis Alberto Melo, Ambassador of the Republic of Panama.
Ms Pacita Juan, Vice President, ASEAN Coffee Federation and webinar moderator commented, "The webinar ran smoothly and I enjoyed the session tremendously. It was a wonderful forum for sharing the industry's insights into climate change from the perspective of coffee growers. The topic has brought this issue to the forefront, especially among the young. Kudos go to the organisers for bringing this discussion to the table."
SOURCE Food&HotelAsia
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