Poor Farmer

The company pays 111.3m Br as down payment for the JV it bought 51pc of By Eden Sahle Addis Fortune October 2, 2011 The Privatization and Public Supervising Agency (PPESA) is to hand over the management of Tepi Coffee Plantation to Green Coffee Agro Industry Plc on Monday, October 3, 2011, after the latter bought 51pc of the shares in the plantation. Green Plc paid 111.3 million, 25pc of the shares it bought, two months ago. The 10,000ht plantation rests in two regional states, with 32pc in Gambella Regional State and the rest in Southern Regional State. The plantation, worth 873 million Br, was first put on the auction block two years ago. However, the offer was cancelled as Green Plc was the only one which showed interest. It was retendered a year and half ago, and Green Plc’s joint venture proposal was accepted. Tepi coffee plantation was one of the three plantations under Coffee Plantation Development Co along with Bebeka and Limu coffee plantations. Be...

By David Friend The Canadian Press October 4, 2011 A random sampling of locations in the Toronto area suggested  a rough increase of about 10 to 15 cents for a grande bold coffee.  ( GREG BAKER/AP via The Canadian Press ) TORONTO—Starbucks Canada raised prices for coffee and other beverages on Tuesday at stores across the country. The American coffee chain declined to say exactly how much it’s boosting the price for a cup of coffee, but a random sampling of locations in the Toronto area suggested a rough increase of about 10 to 15 cents for a grande bold coffee. Other specialty coffees saw larger increases. A grande caramel macchiato rose by 88 cents to $5.03 at one location. The Seattle-based corporation said the price increases vary by region and the size and type of drink. Starbucks does not break out market specifics, so the company said it can’t be certain how much prices have gone up on average. The chain said the changes come as ...

A lack of rain has led some farmers to rip out their entire crop, according to one charity, but experts disagree. By Mark Tran guardian.co.uk October 4, 2011 Coffee production in some parts of southern Ethiopia has come to a halt because of a lack of rain, according to a British NGO, although some coffee experts predict a bumper crop this year. Plan UK is reporting that some coffee farmers have been forced to rip out their entire crop because of drought. "We had too much rain continuing for three to four months, and this year we have had a long dry period so now we're worried about the future," said Mulugeta Tafa, a manager with children's NGO Plan UK, in Ethiopia. Tafa said five areas in the south, including Gedio – where some of Ethiopia's highest quality coffee is produced – are struggling. "Coffee production is grinding to a halt in some parts of southern Ethiopia, due to a serious lack of rain," said Sarah Mace, disaster risk manag...