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| 8/27/2009 12:00:00 AM

New Colombia coffee czar sees no Starbucks deal for now

Aug 27--Colombian's new coffee chief Thursday said the national federation had no plans for now to purchase shares in U.S. chain Starbucks Corp. as a way to better its distribution to the major U.S. market.

Previous director Gabriel Silva had said Colombia, the world's No. 3 exporter, and other coffee-growing associations in Brazil and Central America were considering purchasing a share in Starbucks to improve their distribution network.

"For now, the subject of buying shares is a closed subject," National Federation of Coffee Growers director Luis Genaro Munoz told reporters after he was elected into the post by the group's regional committees on Thursday.

Munoz, a federation veteran who says he will follow Silva's policy line, was competing against Luis Guillermo Echeverri, a Colombian representative to the InterAmerican Development Bank, and Juan Guillermo Angel, a central government advisor for San Andres island in the Caribbean.
 
Read more here.
 
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