Coffee News Recap, 27 Sep: Lamastus Family Estates auction sets new world record of US $13,518/kg, arabica prices reach new high & other stories

Every Friday, Perfect Daily Grind rounds up the top coffee industry news from the week. 

Editor’s note

Record prices are a key theme in the coffee industry this week. After nosediving on Friday 20 September, arabica futures reached US 267.80 cents/lb on Tuesday – a new 13-year high. ICE robusta November contracts, meanwhile, settled close to last week’s high of US $5,312/tonne.

Moving away from market prices, at the 2024 Lamastus Family Estates auction, South Korea’s Cupping Post purchased 1kg of honey processed Elida Gesha Aguacatillo for an astonishing US $13,518. This is a new world record for the highest price ever paid for coffee, beating out the previous bid of US $6,034/lb (equating to over US $12,068/kg) at the 2022 auction. Cupping Post’s Tommy Lee described the Gesha as “the most remarkable” coffee he had ever tasted.

There is certainly a market for ultra-high-end varieties, but for most producers and roasters, spending this amount of money on a small quantity of coffee is simply inconceivable. The disparity between the C price and record auction bids continues to widen, and is likely to divide opinion even further.

Top stories of the week

• Mon, 23 Sep – George Stanica wins the 2024 World AeroPress Championship. The Romanian competitor is a passionate home brewer and IT professional. The 2024 event also hosted the first-ever AeroPress Invitational competition, with Spain’s Rufus Blad placing first. (Melbourne, Australia)

• Mon, 23 Sep – La Marzocco debuts The Rise of Espresso documentary at Italian Film Festival. The film highlights the history of coffee, its cultural significance, and the efforts made in the supply chain. Produced by Accademia del Caffè Espresso, the film debuted at the Italian Film Festival in Melbourne on 24 September and will be screened at global events in the coming weeks. (Florence, Italy)

• Wed, 25 Sep – Brian Niccol vows to work closely with Starbucks union staff. In response to a letter from 298 barista bargaining delegates, Niccol reiterated his commitment to improving working conditions and fostering a positive environment at US stores. He also emphasised the company’s focus on maintaining direct relations with workers. (Seattle, Washington, US)

• Wed, 25 Sep – The 2024 Lamastus Family Estates auction sets new world record of US $13,518/kg. South Korea’s Cupping Post purchased 3kg of the Elida Gesha Honey Aguacatillo, which was grown in one of Panama’s national park. Total spending at the auction was US $274,504, averaging US $401.91 per kg. Two lots surpassed US $1,000/kg. (Boquete, Panama)

• Fri, 27 Sep – EU confirms it will roll out EUDR legislation in December 2024. Despite repeated calls to delay the enforcement of the deforestation regulations, the EU has confirmed to the World Trade Organisation that it will implement the strict law later this year. (Brussels, Belgium)

• Fri, 27 Sep – Arabica futures hit new 13-year high as robusta futures surge to all-time peak of US $5,575. The main contract for robusta November delivery closed at $5,527/tonne, while the intraday price reached US $5,575 – a new all-time high for the 10-T contract. ICE arabica futures closed at US 273.90 cents/lb, its highest level in 13 years.

Industry news

• Mon, 23 Sep – AeroPress and DREO team up on giveaway. The two brands are giving away three BaristaMaker milk foamers and AeroPress brewers. The competition will run until 7 October and is open to US residents only.

• Mon, 23 Sep – Alshaya Group reportedly stalls plan to sell minority stake in Starbucks MENA franchise. Potential buyers include Apollo Global Management and Saudi Arabia’s Public Investment Fund. Talks are reportedly on hold until 2025, following customer boycotts over Starbucks’ perceived stance on the Israel-Gaza war, which have harmed sales in MENA, East Asia, Europe, and the US. (Al Mirkab, Kuwait)

• Tue, 24 Sep – European Coffee Trip launches new competition to find the best specialty coffee shops in Europe. Until 16 October, participants can vote for their top three favourite specialty coffee shops and roasters via the mobile app. (Brno, Czech Republic)

• Tue, 24 Sep – Molly Liu appointed as sole CEO of Starbucks China. Liu, who joined Starbucks in 2012 and became co-CEO of Starbucks China in September 2023, is tasked with driving outlet growth and rebuilding sales in the company’s second-largest market. Starbucks operated 7,306 stores in China by June 2024, short of its 2025 goal of 9,000 locations. The coffee chain faces stiff competition from domestic rivals Luckin Coffee and Cotti Coffee. (Beijing, China)

• Tue, 24 Sep – Lykke Farm Project welcomes Lykke Coffee Estonia as third licensed partner. Founded in 2020, the Lykke Farm Project has its own farms and thousands of producer partners in Peru, Brazil, Uganda, Panama, and El Salvador. Lykke Coffee Estonia joins Sweden and Finland as licensing partners, which source all coffees from Lykke Coffee Farms and also receive marketing, packaging, design, sourcing, and roast and blend support. (Stockholm, Sweden)

• Tue, 24 Sep – Owner of Benugo and Notes Coffee acquires contract caterer Genuine Dining. Genuine Dining, rebranded from Yes Dining in 2011 after a majority stake sale, caters to offices and workplaces. In November 2022, it launched JAAQ Coffee with the charity Just Ask A Question, operating 14 cafés for clients like Spotify and News UK. (London, UK)

• Wed, 25 Sep – Nory’s AI-driven platform helps Roasting Plant Coffee optimise operations and reduce costs. Previously reliant on manual processes, the company faced rising costs and operational challenges. Nory’s platform streamlined tasks, improved efficiency and reduced labour costs by 18%, which allowed Roasting Plant Coffee to manage operations more effectively across all locations. (London, UK)

• Wed, 25 Sep – VEA Group publishes 2023 sustainability report. The Italian group’s (which owns Carimali, Elektra, Heylo Coffee) new report highlights its ESG achievements last year. (Bergamo, Italy)

• Thu, 26 Sep – ProfilePrint signs major agreements with Brazilian agricultural leaders. The AI-driven quality analysis platform has signed agreements with Brazil’s largest coffee co-operatives, including Cooxupé and Minasul, as well as Instituto CNA. The partnership will help to make quality assessments more accessible to rural producers. ProfilePrint also launched the first AI-powered Non-Visual Defect (NVD) detection technology and the Orca analyser. (Singapore)

• Thu, 26 Sep – Nottingham’s 200 Degrees secures wholesale contract with University of Birmingham. The roaster will supply all coffee and ancillary drinks products, such as syrups and hot chocolate, to the 15 food and beverage outlets across the campus. (Nottingham, UK)

• Thu, 26 Sep – Victoria Arduino announces Mikael Jasin as new global brand ambassador. The 2024 World Barista Champion has worked with the brand since 2018 and has promoted some of its products, including the 2021 Black Eagle Maverick espresso machine. (Camerino, Italy)

• Fri, 27 Sep – Starbucks Korea tests discount-based subscription for loyalty members. The ₩9,900 (US $7.45) “Buddy Pass” monthly subscription offers loyalty members a daily 30% discount on barista-prepared beverages after 14:00 local time. Subscribers also enjoy an additional 30% off food orders once a month and receive two free delivery coupons. (Seoul, South Korea)

New launch

• Mon, 23 Sep – Hario releases new Polaris scale. The scale calculates coffee-to-water ratios and tracks brewing progress in real time. (Tokyo, Japan)

• Tue, 24 Sep – Cumulus Coffee Company starts shipping cold coffee machines and capsules. The brand officially launched its machine, which uses proprietary its Cold Cloud Technology to extract cold coffee drinks. (New York City, New York, US)

• Tue, 24 Sep – Jollibee introduces Taiwanese milk tea to US market. Jollibee Foods Corp is expanding its presence in the specialty drinks segment by bringing its Milkshop Japan Inc. brand to California, New York, and Texas. (Taipei, Taiwan)

• Wed, 25 Sep – Peet’s Coffee introduces its first-ever concentrate product. The new Ultra Coffee concentrate is made from the Espresso Forte blend. Consumers need one tablespoon mixed with milk or water. (Emeryville, California, US)

Milestone

• Mon, 23 Sep – Lavazza UK surpasses £100 million in sales for the first time. Gross profit grew by 15% to £27.7 million (US $36.7 million) and operating profit rose by 6.5% to £1.4 million (US $1.9 million). The flagship London outlet, renovated in 2022, was highlighted for boosting brand awareness with its immersive experience, featuring an art exhibition, specialty coffee, and a Michelin-starred menu. (London, UK)

• Tue, 24 Sep – Change Please and Virgin Atlantic celebrate five-year partnership. The collaboration has helped raise awareness of homelessness and provided vital funding for Change Please’s programmes through a portion of coffee sales on flights. (London, UK)

• Tue, 24 Sep – TORR Industries and Brew Bomb announce completion of official merger. The company offers a range of cold brew production options, such as the countertop Hive Café line and commercial brewing equipment. (Redding, California, US)

• Wed, 25 Sep – Expat. Roasters opens sixth store at Hokky Buah Citraland in Surabaya. This is the Indonesian roaster’s third store in Surabaya as part of its national expansion plans. Located in Hokky Buah Citraland, the 50m² store includes premium coffee and food offerings. (Badung, Indonesia)

• Thu, 26 Sep – Indian specialty coffee start-up First Coffee secures US $1.2 million in funding. After opening its first store in April 2024 in New Delhi, First Coffee operates four locations and sources its coffee exclusively from Harley Coffee Estate in Karnataka. The company aims to expand to 35 stores in North India by mid-2025, focusing on high-traffic areas. (New Delhi, India)

• Fri, 27 Sep – Trading Post Coffee Roasters announces new partnership with University of Brighton’s Student Union. The Brighton roaster will supply coffee to three venues run by the Student Union at the Moulsecoomb and Falmer campuses. (Brighton, UK)

Trade & production

• Mon, 23 Sep – JDE Peet’s, USDA, and TechnoServe partner on programme to support over 35,000 coffee producers. The three companies have launched Avanza Café, a US $15.3 million initiative to boost sustainable coffee production in Central America. The programme aims to improve productivity, reduce carbon footprint, and enhance climate resilience, building on a previous project that trained over 79,300 farmers. (Tegucigalpa, Honduras)

• Mon, 23 Sep – USAID to provide US $80 million to support African farmers facing challenges of El Niño. The international development agency has committed to spending over $80 million to enhance agriculture (including coffee production) in Zambia, Malawi, and Tanzania, raising its Feed the Future programme total to US $577 million. The funding targets smallholder farmers in these countries, leveraging their potential for increased yields. (Washington DC, US)

• Tue, 24 Sep – Conab reduces Brazil’s 2023-24 coffee production estimate by 4 million 60kg bags. The Brazilian agency’s updated prediction is 54.79 million 60 kg bags. Arabica and robusta estimates were reduced by 2.53 million and 1.5 million bags, respectively. (São Paulo, Brazil)

• Tue, 24 Sep – Uganda, Rwanda, and Kenya experience container shortages during peak of export season. Congestion at the Djibouti port in Ethiopia is affecting vessel schedules and causing delays. Typhoon Nagi in Asia is also exacerbating delays and container shortages. (Nairobi, Kenya)

• Wed, 25 Sep – Abics supports B3 trading of robusta futures contracts. Fabio Sato, president of the Brazilian Soluble Coffee Industry Association, attended the launch of robusta futures contracts on Brazil’s B3 exchange. He emphasised the importance of this tool for protecting prices against fluctuations and reducing operational risks. (São Paulo, Brazil)

• Wed, 25 Sep – Ethiopian coffee farmers caught in “green squeeze” amid rising climate trade measures. A new ODI paper, “Avoiding a green squeeze“, highlights how climate-related trade measures may unintentionally obstruct economic growth in vulnerable nations. The study suggests that if Ethiopian coffee exports to the EU were halted, the country could suffer an 18.4% drop in exports, a 0.6% GDP decline, and increased poverty – threatening economic stability and development. (Addis Ababa, Ethiopia)

• Wed, 25 Sep – Up to 65% of Africa’s farmland considered degraded and unproductive. The Africa Fertiliser and Soil Health Summit in Kenya resulted in the Nairobi Declaration, aiming to triple the use of organic and inorganic fertilisers over the next decade. The goal is to boost agricultural production (including coffee) and restore 30% of degraded soil across the continent. (Nairobi, Kenya)

• Thu, 26 Sep – Vietnam’s robusta prices are US $900/tonne higher than arabica. In early September, 15,155 tonnes of Robusta were exported at an average price of US $5,053/tonne, while arabica exports totalled 1,129 tonnes at US $4,166/tonne.

Events

• Mon, 23 Sep – First-ever Ethiopian Coffee Origin Festival to take place from 1 to 3 October. Hosted by OTW 2024, the event will celebrate the country’s coffee heritage and International Coffee Day. ECOF will feature exhibitions, tastings, and panel discussions on sustainability and innovation in the coffee industry. (Addis Ababa, Ethiopia)

• Tue, 24 Sep – Maidenhead Coffee Festival to take place on 29 September. This year’s event features the inaugural Maidenhead Coffee Shop Awards and a Berkshire Barista Competition. Attendees can explore a Sensory Experience Zone, a Barista Zone for learning skills, and a Gathering Place for coffee enthusiasts. (Maidenhead, UK)

• Tue, 24 Sep – Porto Coffee Week to be held from 1 to 6 October. Portugal’s biggest coffee festival will feature pop-up workshops at various cafés in the city. Attendees can take part in unlimited tastings from 20 roasters and engage with equipment from brands like Sage and Hario. (Porto, Portugal)

• Wed, 25 Sep – The 2025 National Coffee Association Convention to be held in Houston. Registration is now open for the 2025 convention, scheduled from 6 to 8 March at the Marriott Marquis in Houston. The event is expected to draw over 700 industry professionals, including executives from major roasting, manufacturing, and trading companies. (Houston, Texas, US)

• Thu, 26 Sep – Tickets available for 2025 Nordic Coffee Fest. Visitors and exhibitors can now purchase tickets for the event which will take place on 1 & 2 March, and will feature the second Nordics Best Roaster competition. (Gothenburg, Sweden)

• Thu, 26 Sep – Cerrado Coffee Growers Federation to host series of events to highlight connections between Brazilian and Italian coffee culture. The first event will take place on 2 October at Cafezal Specialty Coffee Roasters and Hub in Milan, while the second event will be held on 3 October at Ditta Artigianale in Florence. The association will host a final event on 8 October at The Brazilian Embassy in Rome. (Cerrado Mineiro, Brazil)

• Fri, 27 Sep – Athens Coffee Festival 2024 to take place from 28 to 30 September. Hosted by Forum SA, the event will include the 2025 Hellenic Coffee Championships, coffee masterclasses, lectures, and networking opportunities. Visitors can sample coffees from top specialty roasters. Last year’s event drew 19,350 attendees, with even more expected this year. (Athens, Greece)

• Fri, 27 Sep – Berlin Coffee Week to start on 30 September. The event will take place until 6 October at various locations across the German capital. Coffee Week Berlin, organised by Communal Coffee and Cee Cee Creative, features workshops, latte art classes, and cupping challenges at top venues like The Barn and Fjord. The opening event will be held at AchtBerlin. (Berlin, Germany)

Competitions

• Mon, 23 Sep – Julius Meinl announces its first-ever International Barista Champion. Raffy Vajio, Head Barista at Atlantis the Royal in Dubai, won the inaugural Julius Meinl Barista Cup. The winners of the individual categories were Vladimir Chzou of Red Rabbit in Moldova, for espresso; Luca Riccardi of Bar Attymo in Italy, for cappuccino; and Mario Benetseder of Café Orchidee in Austria, for signature beverage. (Vienna, Austria)

• Tue, 24 Sep – Reprise Coffee Roasters is the Small Chain winner at the 2024 Golden Bean competition. The Chicago roaster was also the runner-up in the Overall Champion of North & South America category. (Chicago, Illinois, US)

• Wed, 25 Sep – The Barista League sells over 860 tickets on North American tour. Attendees joined from the US, Canada, Colombia, Germany, Guatemala, Mexico, Turkey, Switzerland, Saudi Arabia, Oman, France, and Croatia. More than 159 different companies rook part in the North American tour – which included events in Denver, Brooklyn, and Montreal. (US and Canada)

• Wed, 25 Sep – Mats Maller Aagård wins the 2024 World Kokekaffe Championship. The Norwegian barista’s win was narrow as all four finalists received one score each from the judges. One cup from each competitor was poured through a paper filter and Mats’ cup was deemed to contain the least amount of grit after a long deliberation. (Oslo, Norway)

• Thu, 26 Sep – Haven Coffee Roasters named Overall Champion of 2024 Golden Bean competition. The Florida company beat out 300 other roasters and more than 700 entries to be crowned the overall winner of the competition. (Winter Haven, Florida, US)

• Fri, 27 Sep – The Barista League returns to Barcelona on 28 September. The multi-disciplinary barista competition will be held at Hidden Coffee Roasters. Attendees can pick up a free batch brew from Hidden’s Born or Les Corts locations until 29 September. (Barcelona, Spain)

Here are a few coffee news stories from previous weeks that you might find interesting. Take a look:

• Thu, 19 Sep – Pret A Manger partners with YOOBIC as part of expansion plans. The company aims to double its global footprint to over 1,000 stores in the next three to five years, supported by a network of franchise partners. Pret A Manger has partnered with YOOBIC to leverage 525 support tools across 15 international markets, ensuring consistent service standards during its expansion. (London, UK)

• Thu, 19 Sep – Typhoon Nagi leads to floods and landslides across northern and central Vietnam. Thousands of people have been evacuated from low-lying areas in the region as the Red River surges to its highest level in two decades. So far, the storm hasn’t impacted coffee production. (Hanoi, Vietnam)

• Fri, 20 Sep – LDC reports resilient performance with 2024 half-year net sales of US $25.6 billion. Despite global challenges, Louis Dreyfus Company reported strong results for the first six months of 2024. Capital expenditure increased by 30% as LDC continued to expand its business portfolio and market presence. (Rotterdam, the Netherlands)

• Fri, 20 Sep – Summer menu delivers record quarterly sales for Caffè Nero. The UK chain reported record Q1 revenues of £147 million (US $195 million) and 12.5% sales growth. Over a third of UK transactions were made via its app. (London, UK)

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Want to keep up with current affairs in the coffee industry? Check out last week’s coffee news stories and make sure to read the latest Coffee Intelligence News & Opinion piece about how JAB Holding’s pivot away from coffee towards insurance could reshape the industry.