The first Operation Cherry Red Auction took place on the 31st of May. New regulations within the Ethiopian market allow for increased traceability and transparency, and smallholder farmers now have the ability to export their coffees directly. This is a great step forward and we felt the need to recognize this monumental breakthrough properly by holding an auction to celebrate.
We already bought all coffees that have made it through the initial selection round at a base price of USD 5,00 per pound – four times the world market price. Organizing the auction, sampling and logistics, cost another USD 2.50 per pound. And the entire auction sales amount above USD 7.50 per pound are directly paid to the producers during this year’s field trips. Now that the auction is closed, we have the privilege of paying the participating producers a total of USD 96.292 in premiums!
The producer of the winning lot, smallholder Mr. Tibebu Roba from the Gedeb Region in Southern Ethiopia, received prices of USD 38,50/lb (18-A, bought by Maruyama Coffee), USD 30,50/lb (18-B, bought by Coffee Libre) and USD 33,50/lb (18-C, also bought by Coffee Libre), resulting in a total premium of USD 34.034 to be paid out during this season’s field-trips. Combined with the base price of USD 6.055, this will amount to a total pay-out of USD 40.089.
Mr. Roba states – while in tears; ‘This a new happening. I want to work more in quality coffee and with Trabocca. This is a result not only done by my hands but with the help of God.’
I would like to thank Trabocca on behalf of the beneficiary farmers. There were so many auctions held in the past years but none that concerned the farmers. This is more than money.”
View the Operation Cherry Red Auction results by clicking on the button.