Due mostly to bad weather, Panama's tiny but important specialty coffee business is down significantly. But will be back!
Here are some excerpts from Reuters:
Coffee buyers and analysts said demand for Panama's gourmet, expensive beans will remain strong despite the economic downturn since most consumers who seek out the country's crop are connoisseurs like followers of fine wine.
"Once you drive an expensive car and appreciate the fine differences, it's hard to go back to an old clunker. And it's the same thing in terms of coffee," Judy Ganes, a New York-based coffee consultant, said.
Panama has found a niche with these high-end buyers who are still willing to shell out cash for the best lots, but larger coffee chains like Starbucks (SBUX.O) are trying to lower prices and cut costs.
Read the rest of the story here at Reuters
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