Panama continues to lead the world in the quality of Geisha coffee.
The "Esmeralda Special" Geisha variety re-heated the coffee market this week by breaking the world price record at $170.20 a pound.
In the online auction "Best of Panama 2010, Japanese Coffee House Sazae purchased eight 50 lb bags of coffee worth $ 68,080
Panamanian Geisha Coffee has won first place at the auctions for six consecutive years auction in Boquete, Chiriqui
"Achieving a world record price puts Panama on the map for the best coffees in the world," said Rachel Peterson, owner of Hacienda La Esmeralda.
"With this we tell the world that we have a coffee with great attributes," she said.
In the online auction which lasted two hours, 20 lots of the best varieties in the country were trades with purchasers from Japan, Korea, Sweden and the United States.
The total turnover for the 20 lots was $ 148,197 and the average auction price was $12.45.
Richard Koyna, president of the Specialty Coffee Association of Panama, said the aim of the auction is to sell small lots, but at high prices.