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Starbucks sees no looming disruption in coffee supply -CFO
January 22, 2015 / 10:07 PM / 3 years ago

Starbucks sees no looming disruption in coffee supply -CFO

NEW YORK, Jan 22 (Reuters) - Starbucks does not see any indication of a disruption in coffee supply, and has already fixed prices for 94 percent of its coffee for 2015, Chief Financial Officer Scott Maw told Reuters on Thursday after the release of the company’s first quarter earnings.

“We don’t see or hear anything that indicates a slowdown in supply,” Maw said. “Everything indicates that the coffee market is still healthy in origin.”

Maw added that Starbucks purchased a “significant” amount of coffee in the last six weeks of the quarter, and that the company tends not to buy when the benchmark ICE Futures U.S. price exceeds $1.90 a lb. (Reporting By Lisa Baertlein; Writing by Luc Cohen; Editing by Meredith Mazzilli)

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