First Guatemala Q-Auction successfully sold.

GUATEMALA -- Seven coffee lots, a total of 1,235 bags of 69K, were sold today during the first Guatemalan Q-Auction 2005 at a weight average of $1.62 per pound. The highest bid was Wataru  & Co. Ltd from Japan, who bought Cooperative Pena Roja, located in Huehuetenango, at $1.74 per pound; followed by Kato Coffee, from Japan, who bought Finca El Bosque, located in Guatemala, at $1.72; and Volcafe, USA, who bought Las Crucitas, located in Guatemala, at $1.71.

The farms of the winning lots are located in Huehuetenango (2), Guatemala (2), San Marcos, Chimaltenango and Jalapa. A total of 29 samples were registered to participate in the process, 23 made it to the national grading level and 18 to the international grading level. Fedecocagua, exporter of cooperative coffees, presented 14 of the 29 registered lots.

The opening price was $1.45 per pound, $0.55 above last year's. The auction duration was around 3 hours and 25 minutes. A total of 35 companies registered to participate, 23 from USA, 7 from Japan, 2 from Europe and 3 from other countries. Three Japanese companies and 3 from USA bought one lot. Only Volcafe bought two coffees.

The results can be seen in auction.stoneworks.com. For more information about the Q-Auction program, contact Gerardo Leon-York, [e-mail].