Why is Rosa so expensive? Why does a pound of Panama Rosa coffee cost $1,029?

In May 2019, Lamastus Family Estates broke the record in the famous Panamanian Best Coffee (BoP) Coffee Competition launched by the Panamanian Fine Coffee Association. Of the total 174 coffees submitted to the competition, 78 were selected by the international jury for evaluation, and the family's Elida Geisha Green Tip Natural scored 95.25 (out of 100).

At 8: 00 p.m. on July 16, 2019, fourth-generation coffee maker Wilford Lamastus Jr. It was reported that coffee from his family estate had just been sold at BoP's annual auction for $1029 a pound. This is by far the most expensive coffee.

In the BoP cup test competition, Lamastus Family Estates's specialty geisha coffee has been given high value year after year. But the price and significance of coffee go far beyond the annual Coffee Grammy Awards. The record price has transformed Panamanian-grown coffee from an everyday commodity into an international star-its impact can be felt everywhere from Hitachinaka in Japan to the Bushwick in Brooklyn, New York.

Lamastus Family Estates specializes in geisha coffee, a variety native to Ethiopia. Geisha coffee (also spelled Gesha) has become a luxury brand of coffee in Panama after it was discovered in 2004 by Daniel Peterson from Hacienda La Esmeralda through Costa Rica in Chiriki, Panama.

In addition to Ethiopia and Panama, Guatemalan, Honduran, Salvadoran, Bolivian, Colombian and Costa Rican coffee also produce geisha. Year after year, the price per pound of Panamanian geisha coffee has soared, sparking international headlines and reverberating caffeinated buzzing around the world. Before breaking the four-digit mark in 2019, it sold at $803 a pound in 2018 and $661 a pound the year before. The first geisha ever auctioned (2004) was a water-washed geisha from Hacienda La Esmeralda, which sold for $21 per pound. The most expensive coffee sold at auction at the time sold for $4.80 a pound.

So what makes a pound of coffee more valuable than a pound of coffee? Even among the most fastidious coffee drinkers, Panamanian geisha coffee is worth an astronomical amount because of its rarity, production cost and excellent flavor. For those who do not think of themselves as coffee villains, it is well known that a Panamanian geisha can change his mind with a sip.

Panamanian geisha land

This special, record-breaking coffee (and other high-auction-value Panamanian geisha) is the result of Panama's climate, soil, sea level and geographical location that affect the taste of geisha coffee. You may already be familiar with the concept: it's called terroir, and yes, coffee has it, too.

At the very least, this is the belief of many coffee lovers-and why Panamanian geisha continue to rise in auctions and competitions around the world. Panama's unique microclimate is caused by a combination of winds from the northern (Caribbean) and southern (Pacific) mountains and volcanic soil rich in potassium and calcium surrounded by virgin forests. This creates a balanced natural shadow and acts as a trench coat to protect the coffee cherries on the delicate geisha branches. Panama's geographical location and the narrow distance between the ocean and the ocean (known as an isthmus) make it different from any other coffee-growing area in the world.

Geisha varieties grown in Boquete and Chiriqu í display their signature floral aromas and delicate aromas of jasmine, bergamot, peach, lemon grass and red fruit. Geisha can be processed, washed, natural or any special craft.

"these qualities of [Panamanian geisha] are difficult to replicate in other geisha-producing countries because they don't have the same special altitude and soil as Panama," says Ramastus Jr.

Break the world record

Today, more than 15 countries produce geisha, whose seedlings originated in Panama. But no country is at the same level as Panama in terms of the quality set by the competition and evaluation. It was the Elida Estates owned by the Lamastus family that brought these record-breaking geisha to global attention in these competitions.

LFE was founded in 1918 by Kentucky-born Robert Lamastus in Boquete, one of the most famous coffee-growing areas in the world.

Elida Estate's geisha also scored the highest score ever on CoffeeReview.com, the site's top 98 for any coffee.

There are other factors, such as the expensive land market in Panama compared to other coffee-growing countries, the lower production of geisha beans per branch than other Arabica coffee varieties, and the basic relationship between supply and demand. Because of the rarity, the price of these specialty geisha may be raised, just as some romantic Condi Burgundy wines cost as much as $20000.

"if someone wants the best, they are usually willing to spend money to enjoy it, especially because they can taste the difference," said Mike Perry, founder of Klatch Coffee in Kukamonga, Calif., Panama's best judge and 2019 buyer.

Because of all these factors, buyers are willing to raise their offer for a pound of coffee to $1029. "this is because buyers know the work [on coffee] and they predict the continuity of quality; these things make them feel better when making crazy, expensive bids," says Ramastus Jr.