The company insists that both JV partners, Tata Global Beverages and Starbucks, are extremely happy with Starbucks' performance and trajectory in India and will be entering new markets in its second year of operation.
Talking about the business of Tata Global Beverages, L Krishnakumar, CFO of the company said performances have been quite strong, both in terms of volumes and price increases.
In an interview with CNBC-TV18, Hameed Huq, managing director of Tata Coffee said there has been shrinkage in production of Arabica in Colombia and Central America. This global shortage of high quality washed Arabica has lead to hike in coffee prices.