Asia Shields Brazil Starbucks Supplier From Coffee’s ‘Big Scare’ – Bloomberg
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With markets such as Japan and South Korea emerging from the crisis before other regions, Brazil’s Ipanema Coffees has seen a sharp rebound in volume and price of its smooth tasting arabica beans, Chief Executive Officer Christiano Borges said in an interview. In fact, sales are tracking last year’s levels and the company is at 95% of its target for the year, he said. The uneven global recovery means Asia accounts for a bigger share of Ipanema’s business — as much as 45% of exports this year, 10 percentage points above previous years. […] Coffee plantation of the Rio Verde farm of the Ipanema company, in Coneio do Rio Verde, Brazil. […] Read More: Say Goodbye to Your Local Coffee Shop in America’s Cafe Shakeup As soon as the pandemic turbulence subsidies, the company plans to revisit strategies to strengthen its presence in Asian segments such as grocery stores and large roasters, Borges said.
