Starbucks commits to China with farm
By Joyce Pan |
November 13, 2010, Saturday
|
Print Edition
Print Edition
UNITED States-based Starbucks Coffee Co plans to build its first farm and coffee processing facilities in Yunnan Province as it sees China as its biggest market globally.
Starbucks said the coffee beans will be planted in the first quarter of next year and harvested before 2014. Since 2007, Starbucks' purchases of Yunnan coffee have increased approximately 20 folds.
"Our investment in this coffee growing region demonstrates our ongoing commitment to build China into our second home market outside of the US," Howard Schultz, chairman, president and CEO of Starbucks, said yesterday.
He predicted China will be Starbucks' biggest market.
The world's biggest coffee chain yesterday signed a memorandum of understanding with the government in Puer City, where the farm and a coffee development center will be sited.
The province will invest 3 billion yuan (US$452 million) to raise coffee bean output from 38,000 tons to 200,000 tons by 2020.
Starbucks said the coffee beans will be planted in the first quarter of next year and harvested before 2014. Since 2007, Starbucks' purchases of Yunnan coffee have increased approximately 20 folds.
"Our investment in this coffee growing region demonstrates our ongoing commitment to build China into our second home market outside of the US," Howard Schultz, chairman, president and CEO of Starbucks, said yesterday.
He predicted China will be Starbucks' biggest market.
The world's biggest coffee chain yesterday signed a memorandum of understanding with the government in Puer City, where the farm and a coffee development center will be sited.
The province will invest 3 billion yuan (US$452 million) to raise coffee bean output from 38,000 tons to 200,000 tons by 2020.
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