Press Releases: 09/12/11
CNBC PRESENTS “THE COFFEE ADDICTION”
CNBC ORIGINAL TAKES VIEWERS INSIDE THE $80 BILLION GLOBAL COFFEE MARKET
One-hour Documentary Reported by CNBC’s Scott Wapner Premieres on Thursday, September 29th at 9PM ET/PT on CNBC
ENGLEWOOD CLIFFS, N.J., September 12, 2011¾ It’s called “The Social Drink”—the jolt that gets us through the day and the one we can’t live without. Coffee, once just our morning fix, has become an American cultural obsession in a nation that consumes 400 million cups of it—every day.
On National Coffee Day, Thursday, September 29th at 9PM ET/PT, CNBC presents “The Coffee Addiction,” a CNBC Original reported by Correspondent Scott Wapner. The documentary captures the extraordinary journey from coffee bean to coffee cup as Wapner takes viewers from the jungles of Peru to the frenzied commodity trading pit of lower Manhattan, to the Seattle headquarters of Starbucks, and finally, to the local coffeehouses across the country where a new breed of baristas fuels a national passion.
Most coffee lovers don’t give much thought to where their coffee comes from or how it’s grown. CNBC, First in Business Worldwide, goes back to the beginning of the global supply chain to find out. Wapner profiles a buyer for a coffee company based outside Seattle and accompanies him on a trip to the remote reaches of Peru, crossing a tributary of the Amazon and hiking through the dense jungle to reach the farm of a local coffee grower. There, high-quality Arabica coffee beans, found inside cherries that grow on trees, are painstakingly picked by hand, sorted, cleaned, and sold for $2.70 a pound—a fraction of the $14.70 they’ll fetch after they make their way to a retail shelf in the U.S.
CNBC’s “The Coffee Addiction,” delves into the science behind caffeine’s effect on the body and speaks with Dr. Peter Martin, a professor at Vanderbilt University’s School of Medicine. His findings and others—including a 2004 Harvard study that found long-term moderate coffee consumption could help prevent the onset of Type II diabetes and Parkinson’s disease—suggest that caffeine can actually be beneficial to your health.
CNBC profiles two companies at the heart of America’s coffee culture. Wapner goes behind the scenes at Starbucks to meet their taster-in-chief, Dub Hay. As Starbucks Director of Coffee, Hay slurps, smells, and sloshes his way through hundreds of coffee blends and flavors to decide what their millions of customers will drink. Wapner also sits down with Starbucks CEO Howard Schultz to discuss his role in the rise, fall and rise again of this corporate coffee giant. Schultz concedes that his company became “a poster child for excess” by building too many stores, hundreds of which were later shuttered as thousands of employees were laid off. Schultz has righted the ship, redesigned many of his stores and expanded aggressively overseas, bringing Starbucks record profits.
CNBC also tells the success story of Vermont’s Green Mountain Coffee Roasters, a company once so close to collapse that then-CEO Robert Stiller paid salaries on his credit card. Stiller bought a single Green Mountain coffee store in 1981. Thirty years later, his company is now the dominant player in the single serve game by joining forces with the Keurig brewing system. With their coffee pods or “K-Cups,” Green Mountain now has an 80% share of the single-serve market, and recently struck deals to offer Starbucks and Dunkin’ Donuts coffee in their system.
For more information including slideshows and web extras, log onto: coffeeaddiction.cnbc.com.
Scott Wapner is an award-winning reporter and the host of “Fast Money Halftime Report” (Weekdays at 12:30PM ET).
Mitch Weitzner is the Senior Executive Producer of “The Coffee Addiction.” Mary Noonan is the Senior Producer. Steven Schnee is the Producer and Morgan Brasfield is Field Producer. Ray Borelli is the Senior Vice President of Strategic Research, Scheduling and Long Form Programming.
CNBC’s “The Coffee Addiction” will re-air on Thursday, September 29th at 10PM ET/PT.