Plinio Ruiz, president of the Association of Specialty Coffee Growers in Panama, declared that the Asian market has shown much interest in the product.
"We are thrilled to know that more than 44 international buyers have registered to participate in the auction," affirmed Ruiz.
The coffee farmer stated that businessman from Sweden, Taiwan, United Kingdom, South Korea, France, Japan, China, Hong Kong, Australia, and the United States are interested in Panamanian coffee.
Some 14,600 pounds of specialty coffee from 47 lots will be electronically put up for auction. The coffee growers hope to obtain the best prices in the international market.
When the Geisha variety of coffee was auctioned in 2004, buyers from the U.S. and Japan offered up to $21 per pound.