Starbucks CEO Howard Schultz
Media playback is unsupported on your device

Starbucks CEO on selling coffee back to Colombia

27 August 2013 Last updated at 11:24 BST

The world's biggest coffee shop chain plans to open its first cafe in Colombia in 2014 - after exporting beans from the South American country for more than four decades.

Starbucks Chief Executive Howard Schultz told a news conference in Bogota: "I would be disappointed if after five years we didn't have at least 50 stores [in Colombia]."

Starbucks said its research suggested the cost of the chain's drinks would not deter consumers, but declined to reveal its Colombia prices, citing competitiveness.