A coffee brand from NOVA Coffee Ltd – a Gicumbi District-based firm – was sold at a record high price in an online auction held on Thursday, September 12, according to information from the National Agricultural Export Development Board (NAEB). NOVA Coffee Ltd’s standout coffee lot fetched an impressive $71.8 per kilo (approximatelyRwf97,000), which is fourteen times the average market price for other coffees – which are not part of the 18 top coffees from the Best of Rwanda 2024 specialty coffee competition. ALSO READ: How high prices buoyed Rwanda coffee exports NAEB indicated that the 18 top coffees were successfully sold through the Thursday online auction, achieving unprecedented prices. The coffees amounted to more than 6,600 kilogrammes and raked in over $165,000 (approximatelyRwf225 million). Overall, buyers came from Japan, Saudi Arabia, United States of America, China, Greece, United Kingdom, and Bulgaria. NAEB pointed out that the price at which NOVA Coffee Ltd’s lot was sold sets the record in Rwanda’s coffee history. Agnes Mukamushinja, the proprietor of NOVA Coffee Ltd, was thrilled to receive the highest bid for her coffee, pointing to the impact the achievement could have on business and coffee farmers. “I am truly honored to have my coffee receive the highest bid. This achievement is a testament to the hard work and dedication we put into producing quality coffee,” she said. “This recognition will allow me to invest in coffee farming activities, hence ensuring even higher quality coffee in the future and improve my community's livelihood through coffee,” she added. The Best of Rwanda Specialty Coffee Competition, which celebrated its first edition earlier this year, sought to identify and showcase the very best coffees from across the country. The 18 coffees sold during the auction were recognised for their distinctive taste, selected from other 297 lots, after going through three cupping stages by national and international jurors, according to NAEB. The significant achievement not only highlights the excellence of Rwanda coffee but also directly contributes to the well-being of the farmers, with NAEB indicating that the revenues generated from these sales will enable coffee farmers to invest in modern farming techniques, improve productivity, and further enhance the quality of future harvests. “Today’s achievement is a reminder of the potential we hold when we work together as the actors of the coffee value chain; producers, exporters, and consumers; driving quality and sustainability. Each bid is not only a recognition of the best Rwanda coffee but also an investment in the future of our coffee sector,” said NAEB CEO Claude Bizimana. The Best of Rwanda Coffee competition, an annual event organised by NAEB and Partners, aims to showcase the finest coffee produced by smallholder farmers, enhancing visibility and access to international markets. This Competition and subsequent auction reinforces Rwanda’s position as a top destination for specialty coffee. NAEB expressed a commitment it will continue its efforts to support farmers and expand market opportunities, ensuring that Rwanda coffee remains highly competitive in the global market. Rwanda’s coffee is a major contributor to the country’s agricultural export earnings. Rwanda exported slightly more than 20,000 tonnes of coffee which generated $115.9 million (around Rwf147 billion) in the financial year 2022/2023, representing a 53.39 per cent increase in coffee revenues compared to $75.5 million earned from more than 15,000 tonnes sold at international markets in the previous fiscal year, as per data from NAEB. The figures imply that coffee accounted for 13.5 per cent of Rwanda’s total agricultural export revenues which amounted to $857.2 million (around Rwf1 trillion) during the same fiscal year.
