Trading house Mitsubishi Corp. said it has entered the coffee plantation business in Brazil by acquiring a 20 percent stake in Ipanema Coffees.
Mitsubishi said Tuesday it is aiming to secure stable supplies of Brazilian coffee amid growing demand in emerging economies. It plans to help streamline operations at Ipanema Coffees’ plantations, located around 300 km north of Sao Paulo.
The trading house has maintained a business relationship for more than 20 years with Ipanema Coffees, which produces up to 9,200 tons of coffee a year. Demand for certified coffee from the plantations has been growing by roughly 10 percent annually in recent years in the U.S., European and Japanese markets, Mitsubishi said.