Starbucks Commits to Double its Coffee Purchases from East Africa by 2009."Starbucks Reinforces Commitment to the Coffee Farmer and to the Region" Announcement Made During 4th Annual East African Adj. 1. East African - of or relating to or located in East Africa Fine Coffees Association meeting in Addis Ababa Addis Ababa (ăd`ĭs ăb`əbə) [Amharic,=new flower], city (1994 pop. 2,112,737), capital of Ethiopia. It is situated at c.8,000 ft (2,440 m) on a well-watered plateau surrounded by hills and mountains. , Ethiopia SEATTLE & ADDIS ABABA, Ethiopia -- Starbucks Coffee Company (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SBUX SBUX Starbucks Corporation (stock symbol) SBUX Starbucks Coffee Company ) - announced it will increase its coffee purchases in East Africa two fold in two years. In FY 2006 Starbucks purchased 294 million pounds of coffee globally with approximately six percent sourced from Africa. Starbucks pledged to double its purchases from East Africa by 2009. The announcement was made to 500 coffee sector leaders convening con·vene v. con·vened, con·ven·ing, con·venes v.intr. To come together usually for an official or public purpose; assemble formally. v.tr. 1. in Addis Ababa for the 4th annual Eastern African Fine Coffees Association (EAFCA EAFCA Eastern African Fine Coffees Association ) meeting. In addition to this pledge was the announcement of Starbucks intent to staff a Farmer Support Center in East Africa, adding on to the success of the first Farmer Support Center in Costa Rica Costa Rica (kŏs`tə rē`kə), officially Republic of Costa Rica, republic (2005 est. pop. 4,016,000), 19,575 sq mi (50,700 sq km), Central America. . The Center will be staffed by a team of experts in soil management and field-crop production to improve coffee farmers' livelihoods and the future supply of high-quality, sustainable coffee. "East Africa is not only the birthplace birth·place n. The place where someone is born or where something originates. birthplace Noun the place where someone was born or where something originated Noun 1. of coffee and the origin of some of the finest coffees in the world, its coffee trade is tied to the well-being and economic development of the region's countries and people," said Dub Hay, senior vice president, coffee and procurement. "At Starbucks, we are fully committed (Law) committed to prison for trial, in distinction from being detained for examination. See also: Fully to growing our partnerships with farmers in East Africa to rise to the same levels we've achieved in other regions of the world during the past 35 years." As part of its integrated approach to coffee buying in Buying in has several meanings. In the securities market it refers to a process by which the buyer of securities, whose seller fails to deliver the securities contracted for, can 'buy in' the securities from a third party with the defaulting seller to make good. East Africa, Starbucks announced a number of social development projects it will launch to build upon the $4.2 million of programs already committed to the region since 2002, which have provided access to health, education, clean water and improved infrastructure for thousands of coffee farming communities. These new commitments include: 1. Opening a Farmer Support Center in East Africa, which will help provide best practices assistance for growing coffee responsibly. 2. Working with organizations such as EcoLogic to make affordable credit available to coffee growers. To date, Starbucks has made available more than USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $9.5M in credit. 3. Supporting humanitarian organizations such as CARE-Ethiopia to provide adult literacy programs to 1,500 households through a commitment of $500,000 to fund a three-year program. This program will improve economic and educational prospects for more than 6,000 people in rural Ethiopia's coffee growing regions A growing region is an area suited by climate and soil conditions to the cultivation of a certain type of crop. Most crops are cultivated not in one place only, but in several distinct regions in diverse parts of the world. . 4. Committing to support women coffee growers in Rwanda through continued training and professional development. The purpose of this program will be reinforcement of economic power of rural Rwandan women, involved in the production and commercialization of coffee. The training program for Rwandan women will include professional training, development of the entrepreneurial spirit, leadership, quality improvements, and commercialization of their coffee. The impact of this program will be the reduction of extreme poverty in Rwandan families. The financial capacity of the beneficiaries will be improved. The beneficiaries will be capable of covering their basic needs, school fees for their children, their medical needs, appropriate hygiene, and decent housing. In addition to the pledge to double the amount of coffee purchased by 2009 and the announcement of increased investment in regional social development projects, Starbucks also announced its support of Africa's work to increase exports and create jobs. Starbucks will explore opportunities to diversity and expand its purchases from East Africa. About Starbucks Starbucks Coffee Company provides an uplifting experience that enriches people's lives one moment, one human being, one extraordinary cup of coffee at a time. To share in the experience, visit www.starbucks.com. About East Africa Fine Coffee Association The Eastern Africa Fine Coffees Association (EAFCA) is a trade association of coffee producers, processors, marketing professionals, and coffee organizations in the 10 Eastern and Southern African countries of Burundi, Ethiopia, Kenya, Malawi, Rwanda, Tanzania, Uganda, Zambia, Zimbabwe and the Democratic Republic of Congo as well as others from outside Africa. Members include processors, associations, roasters, dealers, retailers, and coffee professionals from all over the world. EAFCA helps promote "market linkages"--connecting organizations throughout the coffee supply chain--and enables the trade of information, facilitates the exchange of technology, and assists in policy advocacy. For more information about EAFCA and the Fine Coffee Conference, visit http://www.eafca.org/index.asp. |
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