Keeping our engagement of transparency and traceability with our partners and coffee lovers is one of our strongest values. From the green coffee grade to our sourcing partner and our purchasing price, we do our best to highlight our fully transparent approach.
In 2022, we continued to work with the same sourcing partner as well as direct relationship farmers. Like everyone, we navigated through challenging seas to provide better quality and service. To do so, we strengthened our relationship, offering more volume from our existing partners. Pledging for a full transparency approach as a small business made our beliefs and principles stronger despite an uncertain future.
In 2022, we sourced the highest lots from each origin country with an average quality score of above 88, keeping our mantra while being flexible in a forever-changing world.
Our pondered average purchase price has increased from $5.14 in 2021 to $6.36 FOB*. Despite an outstanding inflationary market in all aspects, we keep our promise by increasing our purchasing cost by 23% from 2021. We realized that to make a bigger impact on the farm gate price, we had to source even more traceable lots in every origin we are sourcing coffee from.
C-price - Average commodity price for coffee on the New York Stock Exchange.
FOB - Freight-On-Board, the price of a coffee at export. This means it includes the price paid to the farmer (including local transport and milling costs) as well the amount the exporter is charging buyers who take control of the coffee as it's loaded onto the vessel at the point of origin.
Farm Gate Price - the price paid directly to the farmer, not to traders and mills.
The farm gate price is not easy to get for every origin. Some of the African coffee is an estimated based on average due to the compelxity of cooperatives and mills where hundreds of farmers deliver their cherry.