Business

Fight against coffee tree disease draws $23 million

A coalition that includes the U.S. Agency for International Development and Starbucks Corp. launched a $23 million fund to help Latin America farmers fight coffee rust.

The move is part of a growing international effort to combat coffee rust’s devastating impact on Central and South America’s coffee farms, where some of the world’s best beans are grown.

In May, USAID and Texas A&M announced a $5 million partnership to fight the disease, which is caused by a parasitic fungus that is now thriving amid warming climates and changing rain patterns.

The new fund will apply $8 million from USAID and partners Keurig Green Mountain, Cooperative Coffees and Root Capital to train farmers in Mexico, Guatemala, Honduras, El Salvador, Nicaragua and Peru.

In addition, $15 million in investment capital from Boston-based Root Capital, including $3 million provided by Starbucks, will go toward long-term financing for repairing fields ravaged by the disease.



Click here to comment on this story »





Learn to become a super shredder

sponsored Any victim of identity theft, fire, or flood will be glad for the time taken in advance to file and store critical records.



Sections


Profile

Contact the Spokesman

Main switchboard:
(509) 459-5000
Customer service:
(800) 338-8801
Newsroom:
(509) 459-5400
(800) 789-0029
Back to Spokesman Mobile