Coffee Prices Rising?

Prized Specialty Coffee From Panama Sells at High Price of US$21 a Pound During Specialty Coffee Association of America Internet Auction

LONG BEACH, Calif., July 6 /PRNewswire/ -- In an Internet auction hosted by the Specialty Coffee Association of America (SCAA), green specialty coffee beans from farmers in Panama sold to roasters for the high price of US$21 a pound, a dramatic increase of 2,000 percent compared to the average price of 73 cents paid for a pound of green coffee at the New York Board of Trade. The winning bid at the "Best of Panama" coffee auction is due to the high quality of this prize-winning coffee, which was sought by several bidders. Specialty coffee is defined as a coffee that has no defects and a distinctive flavor in the cup.

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