Starbucks cuts Brazilian coffee purchases ahead of coronavirus closures — Panjiva
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Starbucks cuts Brazilian coffee purchases ahead of coronavirus closures

Ags - Softs 104 Brazil 310 Consumer Staples 523 Peru 41 U.S. 4088 Vietnam 242

Global coffee prices have surged in part due to logistical concerns linked to coronavirus, though demand is also likely to slide as firms including Starbucks shut their stores. Global coffee exports fell 6.2% year over year in January due to a 23.3% slide in shipments from Vietnam while those from Brazil slipped by a more modest 1.9%. Starbucks accounted for 18.7% of Brazilian coffee exports to the U.S. in 2019 but had already cut its shipments by 9.0% year over year in January. Shipments from Brazil to the U.S. linked to JM Smucker’s Folgers meanwhile represented 16.1% of the total and ...

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