Ethiopian coffee gets top bids in Internet auction

NEW YORK, July 12 (Reuters) – Ethiopia, widely considered the birthplace of coffee, has attracted top bids from around the world for its premium Java in a premier Internet auction for African coffees, according to ECAFE Foundation, a nonprofit group organising the event.

ECAFE, which aims to help the agricultural and economic development of farming communities, had sourced coffee from 150 farming coops in eight regions across the African country to identify high quality coffees.

“The auction generated more than $187,800 (106,000 pounds) for the farmers, at an average price of $3.22 per pound, compared to the market price of $1.30 per lb,” ECAFE said in a statement.

Vermont-based specialty roaster Green Mountain Coffee Roasters put in the highest bid of $6.50 per lb for Wotona Bultuma Cooperative’s Fair Trade Certified and Organic certified beans.

“Finally, farmers at the coop level who produce these exemplary coffees will receive the prices and the recognition they deserve,” Willem Boot, president of ECAFE, said in the statement.