Starbucks ($SBUX) Opens New Climate-Proofing Coffee Farms in Guatemala and Costa Rica

Oct 3, 2024, 10:04 AM

Starbucks Corp. has announced the opening of two new coffee farms in Guatemala and Costa Rica as part of its global initiative to protect the future of coffee. These innovation farms will focus on climate-proofing coffee production by testing various technologies, including drones and microbes. The move comes in response to a recent massive drought in Brazil that has driven coffee and orange prices up, with the latter increasing threefold. Starbucks trades under the ticker $SBUX.