Local producers of Rwanda’s premium coffee could be smiling, following a 5 times sale of their coffee on global market.
At an internet auction activity organized by the National Agricultural Export Development Board (NAEB), Rwanda’s premium coffee was bought as high as $41.22 per kilogram – almost five times higher the range of $8-$12 price on global markets.
More than 80 global coffee giants participated in the auction that saw them bid for the highest purchase of 28 best local Coffee Washing Stations (CWS).
The above local premium coffee producers won a ‘Presidential award’ in the recently concluded Cup of Excellence (CoE) ceremony.
Twumba Coffee Washing Station – a winner of Cup of Excellence (CoE) received the highest sale of its 1.2 metric tons of premium coffee at $41.22 (Rwf37, 000) and $40.12 per kilogram respectively.
This means the Coffee Washing Station bagged Rwf42.7 million on its coffee at an auction that opened at 3pm on Thursday and closed on Friday, September 21.
Among the international coffee giants that tagged in the auctioning include; Muruyama in Japan, Ascension Coffee Roasters Company and Dragonfly Coffee Roasters both in United States of America.
After the auction, Mutagengwa told KT Press that about 50% of the auctioned money goes to farmers who supply cherries to the washing stations while the latter takes $3.3 per kilogram plus 10% of the total income going to the winning lot.