The Agricultural Development Bank (BFA) is opening a line of credit for small farmers, a new feature for this year's tenth Cup of Excellence event, announced the Salvadoran Coffee Council (CSC in Spanish).
"Through this initiative, which will facilitate the entry of more participants, it is expected that at least 250 farms will submit samples, from 26th to March 30th," reports ElMundo.com.sv. "This line is to help small coffee producers to also be able to support the time required for the tournament," said Ana Elena Escalante, executive director of the CSC.
The amount of funding for farmers will depend on the number of quintals to go under auction. "Last year the highest sales price was $1,980, which is a very nice profit for the farmers," said Escalante, according to the website.
Source: elmundo.com.sv
More on this topic
May 2012
The tenth edition of the online auction ‘Cup of Excellence’ will include 41 lots and 67 samples of the best coffees.
The purpose of the competition is to identify exceptional coffees lots for auction online. The panel of judges is composed of 18 international tasters, two national and six international observers, who will select the winners, reported Prensalibre.com.
June 2009
Thirty-three of the grain lots that won the 2009 edition of the Cup of Excellence in El Salvador participated in the auction.
In total $506,221.15 were negotiated during the electronic auction. The winner of the competition, El Topacio farm, reached a price of $22.25 a pound.
June 2011
The highest price achieved at auction was by coffee from the farm 'La Roxanita'.
Sales of the 42 lots auctioned totaled $830,245. The rest of the lots reached prices between $400 and $1,500.
"This value is seven times the price paid today in the international coffe market, including delivery, in July ($ 260.25). However, it failed to beat the record of $2,800, paid last year for a grain from “La Swiza” farm in Santa Ana
March 2012
The Internet auction of the best lots of coffee in Guatemala will take place on July 12th. Growers have until March 30th to submit samples.
The National Coffee Association (Anacafe) has started receiving samples of the best beans from Guatemala to participate in the online auction ‘The Cup of Excellence 2012’, to be held on 12th July, reported Elperiodico.com.gt.
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