Coffee growers take advantage of slowdown

Global - Coffee producers are gunning for an influential share in Starbucks in an attempt to gain greater control of the company's supply chain.

Gabriel Silva, director of Colombia's National Federation of Coffee Growers, was quoted in local press as saying the current financial crisis offered South and Central American nations an ideal opportunity to influence the global coffee market.

"There is an opportunity the crisis offers us; Starbucks' share value is at one of its lowest points in history," he said.

"We want to have a position of influence... a voice sufficiently strong to be able to contribute to the development of the company."

The Federation hopes a deal would be ready by the first quarter of 2009 but stated that any purchase of shares would not involve the interested parties seeking a majority stake.

Colombia is currently the world's third largest coffee producer.