No, coffee is not the second-most traded commodity after oil

In a world now apparently filled with fake news – I thought this interesting – fact checking on a statement by Starbucks about coffee trade….from Politifact. By Jon Greenberg on Monday, May 8th, 2017 at 5:58 p.m. The ubiquitous coffee retailer Starbucks buys about 3 percent of the world’s coffee beans. (Associated Press) Starbucks has a reputation for serving a strong cup of joe, but the ubiquitous coffee retailer’s director of public policy offered a claim on Capitol Hill that turns out to be a thin brew. The Senate Foreign Relations Committee invited Starbucks’ Kelly Goodejohn to talk about how doing well can mean doing good. A 20-year veteran of the coffee trade, Goodejohn had some key points for the senators. “Coffee is grown in challenging regions, often with war-torn pasts, but we have seen coffee as a stabilizing force that provides prosperity and economic stability,” she said. Coffee, Goodejohn said, is a big economic deal. “Coffee is the second-most traded commodity after oil, and 25 million farmers around the world rely on income generated from growing coffee,” she said. Holy latte! We’ve all seen coffee take off in America, but are those beans really the other black gold? We
Continue reading
No, coffee is not the second-most traded commodity after oil. This article appeared first on CTRM Center.