BlackGold Coffee Company, LLC.  

BlackGold Coffee Company

US. Coffee Trade eyes demand amid financial crisis

Marcy Nicholson

BOCA RATON, March 19 (Reuters) - Global demand for coffee and strategies to survive the financial crisis will likely be popular topics at the National Coffee Association of U.S.A. convention this week, as at least one major specialty coffee shop chain faces store closures.

Giant coffee chain Starbucks Corp (SBUX.O) has announced plans to close nearly 1,000 stores as it fights to revive growth in the United States, the world's top coffee consumer and importer, due to many consumers opting for cheaper options. Its U.S. rivals are mounting as fast-food leader McDonald's Corp (MCD.N) rolled out its McCafe espresso drinks.  The London-based International Coffee Organization estimated world consumption in 2008 at 128 million bags, up from 125.1 million in 2007, with consumption not expected to suffer greatly due to the global financial crisis.

"Overall the demand side, from everywhere that I can see, is still growing and should continue to grow, albeit in maybe a different way," said Shawn Hackett, president of Hackett Financial Advisors in Florida.  "We're clearly seeing a switch from buying the high-priced cup of coffee at Starbucks to buying McDonald's or Dunkin' Donuts-type coffee and drinking at home," Hackett said.  These tough economic times call for high standards and a clear vision of the future, a business consultant plans to tell traders, analysts, roasters and other industry representatives gathering at the 98th annual convention in the coastal community of Boca Raton in Florida from March 19 to 21.

"In this environment, there really can be no acceptance of mediocrity. All standards have to be high standards," said Richard Magid, president of New Jersey-based SoundBoard Consulting Group.  "There's a tendency in a difficult economic environment, to pull the constraints in on people, and a lot of people are being let go," Magid said, speaking in general business terms.

"There's this kind of conflict between the constraints that are being created in a difficult environment, which makes it even more difficult and accelerates the problems," Magid said.

Fresh Roast...Fresh Coffee...Fair Price : www.blackgoldcoffeecompany.com

   Home Roaster’s market for quality green beans at great  prices