A kilo of Ethiopian coffee was sold for USD980 or more than ETB 102,000 at the Cup of Excellence.
It has been five years since Cup of Excellence, which aims to make coffee farmers benefit from their efforts, came to Ethiopia.
The competition has been held over the past seven years with various competition programs.
In this year's fourth edition of Cup of Excellence online auction, 4,870 different prices were given to the competing coffees, and one kilo of coffee was sold for USD980.64 or more than ETB102,000.
This is a new record from the competitions and standards that have been held in Ethiopia so far, according to Ethiopian Coffee and Tea Authority.
Director General of Ethiopian Coffee and Tea Authority Adugna Debella said that he was able to get a historic bid price again in the 2024 competition.
“This is a great achievement not only for the winners but also for our country,” Adugna said, conveying Ethiopian coffee farmers a congratulatory message.