Starbucks ups some prices in China
Saturday 01 January 2011
US coffee chain Starbucks said Friday it plans to increase the price of some drinks in China next year due to soaring commodity prices.
The price of Frappuccinos will be hiked by two yuan (30 cents) from Saturday, Shanghai-based Starbucks spokeswoman Caren Li told AFP. The current price for a small Frappuccino is around 30 yuan (4.50 dollars).
Starbucks, which has 400 stores in China, will however reduce the cost of other products such as vanilla lattes, as well as extra syrup, cream and coffee shots, Li said, without providing further details.
The price adjustments will "reflect increases in commodity prices and provide better value for our customers", she said.
Global raw material costs have skyrocketed in 2010 due to weather-related disasters and strong demand in emerging economies such as China.
Coffee prices have been trading around record highs after heavy rain destroyed coffee bean crops in Central and South America.
In November, US fast-food giant McDonald's raised the price of its hamburgers, fries and chicken nuggets by up to one yuan in response to spikes in meat, egg, and oil prices in China.
Beijing has been battling to rein in soaring food costs, which drove inflation in November to its highest level in more than two years.
Kirstie Allsopp has waded into the female fertility debate again
...and it wasn't caused by an asteroid crash, as first thought
Life & Style blogs
An app for the amorous: Could Good2Go end disputes about sexual consent - without being a passion-killer?
Windows 10 release: Microsoft bypasses 'Windows 9' with new operating system
The Fappening: After the third wave of leaked celebrity photos, why can't we stop it?
Victoria's Secret's millionaire models
Stoptober: How I stopped smoking for good
- 1 Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
- 2 Prince held a Facebook Q&A and this is the only question he answered...
- 3 35,000 walrus gather on north-west Alaska beach 'for a rest'
- 4 Brad Pitt, on the moment he completely lost his temper with Clint Eastwood's son
- 5 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- < Previous
- Next >
iJobs Food & Drink
30,000 to 35,000 per annum: Accountancy Action: We are currently recruiting on...
28,000 to 32,000 per annum: Accountancy Action: Our client, a hospitality busi...
18,000 to 20,000 per annum: Accountancy Action: Our fantastic leisure client i...
£20 - 24k: Guru Careers: A Marketing Analyst / Marketing Executive is needed t...