Howard Schultz, president of Starbucks Corp.has attacked speculators for pushing up the price of coffee to a 34-year high, the Daily Telegraph reports Wednesday. Schultz said that more transparency is urgently needed to identify those responsible for pushing up raw material prices, the report adds.
Howard, if he is not already, needs to be hedging his coffee purchases in the open market. If he is already hedging, he needs to work with a company that actually makes him money by hedging his purchases.
Schultz goes on to mention the growers that are getting the smallest portion of the inflated price of coffee. This is getting too funny. Anyone that provides a market with liquidity, is now a villian. Please give it a rest now Howard and focus on making a cup of coffee that does not taste as if the beans were roasted for more than 1 year.
