Starbucks buys Costa Rican coffee farm to expand support program
Michael Chen
Senior Web Developer
Starbucks Corp. bought a coffee farm in Costa Rica to expand the company’s grower-support program and allow the world’s largest coffee-shop operator to purchase more coffee beans grown in an ethical fashion.
The 240-hectare (593-acre) farm will help support growers and their families, while allowing Starbucks to create new blends of coffee to sell, Chief Executive Officer Howard Schultz said in a statement. Seattle-based Starbucks has committed to buying only ethically sourced coffee by 2015.
Starbucks, which sells fair-trade blends and reserve coffees from countries such as Nicaragua and Cameroon, has spent about $70 million during the past 40 years on farmer-support programs and loans. It opened its first farmer-support center in San Jose, Costa Rica, in 2004 and has since opened ones in Rwanda, Tanzania, Colombia and China.
Starbucks fell 1 percent to $56.37 at a.m. in New York. The shares gained 6.2 percent this year through yesterday, while the Standard & Poor’s 500 Index gained 8.8 percent.
Earlier this month, McDonald’s Corp., the largest restaurant chain by sales, said it will invest $6.5 million during the next five years to help coffee growers in Guatemala produce more high-grade beans from sustainable farms. The Oak Brook, Illinois-based company sells McCafe-brand caramel mochas, as well as flavored frappe coffees.
Source: washingtonpost.com/business/starbucks-buys-costa-rican-coffee-farm-to-expand-support-program/2013/03/19/e0182ac4-90a3-11e2-9173-7f87cda73b49_story.html
Sarah Williams
February 13, 2025Proin iaculis purus consequat sem cure digni ssim donec porttitora entum suscipit rhoncus. Accusantium quam, ultricies eget id, aliquam eget nibh et. Maecen aliquam, risus at semper.
James Cooper
February 13, 2025Quisque ut nisi. Donec mi odio, faucibus at, scelerisque quis, convallis in, nisi. Suspendisse non nisl sit amet velit hendrerit rutrum. Ut leo. Ut a nisl id ante tempus hendrerit.
Rachel Adams
February 13, 2025Vivamus elementum semper nisi. Aenean vulputate eleifend tellus. Aenean leo ligula, porttitor eu, consequat vitae, eleifend ac, enim.