Nestle (NSRGY.PK) plans to spend at least 100M yuan ($16M) on a new coffee facility in China in...

|About: Nestle S.A. ADR (NSRGY)|By:, SA News Editor

Nestle (NSRGY.PK) plans to spend at least 100M yuan ($16M) on a new coffee facility in China in an effort to promote the alternative to tea. Although the final verdict on consumers' appetite for coffee in China isn't quite in yet, coffee sales rose 13% last year to 7B yuan ($1.13 billion) and Starbucks (SBUX) is optimistic enough on the market that it's considering selling bagged coffee in grocery stores.