Million hits

Published: 13 June 2000 y., Tuesday
"We had a million hits in the first few days," said Michael Heath, promotions manager of the London-based ICO, the body that represents leading world producer and consumercountries. China, with around a quarter of the world's population but accounting for less than one percent of coffee consumption, is seen as a huge potential market.Boosting coffee consumption is seen as one way of reviving world prices, depressed by oversupply and bunching of exports. Prices are languishing just above seven-year lows. Following the opening up in recent years to Western consumer products and lifestyles, the Chinese have shown a growing taste for coffee. Coffee shops and bars have opened in Shanghai, Beijing and other major cities in the past couple of years. The recent expansion has been driven by Starbucks Corp (SBUX.O) of the United States, Bonomi and Bella of Italy, UCC Ueshima Coffee Co. of Japan, Kamperey of Hong Kong and Excelso of Indonesia. Before 1998 Nestle SA (NESZn.S), Kraft Foods (MO.N) and Cafe de Colombia developed a market for instant coffee, which accounts for about 90 percent of the Chinese coffee market.
Šaltinis: Excite News
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