PARIS, March 8 (Reuters) - Coffee chain Starbucks Corp (SBUX.O) is feeling the pressure from rising commodity costs and is working to offset them by keeping a flexible pricing policy, its U.S. head told Reuters late on Tuesday.
Although Starbucks has already secured coffee supplies through end-September, other ingredients like cocoa and sugar are causing concern as supply fears fan prices, Cliff Burrows said in an interview in Paris.
"Everything from dairy to what's been happening in recent weeks to the price of oil is all adding to the pressure," he said. "We are working very hard to mitigate those commodity pressures ... Whether that's moving some prices down, keeping some the same and moving some up."
Coffee and cocoa futures are trading at historic highs on the back of supply concerns and political unrest in Africa, where major cocoa exporter Ivory Coast has been paralysed by international sanctions and the aftermath of a disputed November election that has brought it to the brink of civil war.
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