The coffee, grown in the Boquete highlands of Chiriqui Province, is part of a 100-pound lot sold for $600 a pound, the highest price ever paid for green beans, according to the Daily Roast News.
Geisha or Gesha is an aromatic coffee produced in Panama and Costa Rica, after being imported from Gesha, Ethiopia, according to Wikipedia.
The record sale was one of 51 lots sold at an average price per pound of $62 in an auction of Panamanian coffees, held annually by the Specialty Coffee Association.
The average price per pound during the past five years of conventional arabica coffee on world markets was $4.
Asian buyers predominated in the Panamanian auction, with 37 lots going to buyers in Taiwan, China, Hong Kong, Japan, Thailand, Indonesia and South Korea.
Australians bought seven lots, and Saudi Arabians bought two, while one each went to buyers in France, Netherlands, the United Kingdom, and the United States.
Geishas, mostly natural-processed, dominated the auction; however, Caturras, Catuais and Pacamaras varieties were also present.