Guatemala first uses blockchain technology for coffee bidding in 2019

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According to the Guatemala Coffee Association (ANACAFE), the first bidding for Guatemala coffee using blockchain technology was held on May 24 this year. A total of 21 coffee plantations in Guatemala participated in the event, with a total bidding amount of US $116,281 and 105 international buyers, mainly from Qatar, China Taiwan, Honduras and Saudi Arabia.

The bids started at $4.25 a pound, with El Injerto Estate topping out at $13.25 a pound, Las Rosas Estate second at $9.25 a pound, and the average bid price at $6 a pound. Arturo Aguirre, head of El Injerto Estate, said the coffee bidding would help to raise awareness of the important activities of quality coffee in Guatemala. Although affected by low international coffee futures prices, Guatemala's high-quality coffee will help solve this problem.

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