Coffee-growing countries look to buy stake in Starbucks

By Patrick Markey

BOGOTA (Reuters) - Coffee powerhouse Colombia hopes early next year to join other producers to buy an influential share in Starbucks, with Brazil and Central American growers also interested, a top coffee official told Reuters.

Colombia, the world's No. 3 producer, has held talks with banks for a year about a share in the U.S. giant, which would allow growers more say in the supply chain, said Gabriel Silva, director of the National Federation of Coffee Growers.

"There is an opportunity the crisis offers us; Starbucks' share value is at one of its lowest points in history," Silva said in an interview late on Monday. "We want to have a position of influence ... a voice sufficiently strong to be able to contribute to the development of the company."

Hurt by the global economic crisis and slower consumer demand for premium coffee, Starbucks recently announced it would close down 600 stores and expected to double its cost-cutting as sales fall.

A year ago Starbucks shares were trading over $20 but now are just below $10. Its shares were up 2.24 percent at $9.57 in early Tuesday morning trade.

Silva said he hoped a Starbucks deal could be ready by the first quarter of next year and already had offers of alliances from other current investors.

"The percentage will depend very much on the current shareholders, I mean that we could work together," he said. "You can have an important presence without needing to take control or have absolute majority."

Starbucks has been pressured this holiday season as consumers cut back on discretionary purchases. To drum up holiday season sales it has been offering 20 percent discounts on whole bean coffee and some other merchandise.