Difrisco attributed the rise of coffee prices to very strong demand and a supply imbalance.
In the past year, coffee futures have increased more than 57 percent.
"It will take time for the supply to catch up with the demand," Difrisco added. "I think you're seeing a bigger pressure also probably in the grocery channel."
In the grocery channel, some companies are rolling back prices due to stronger margin pressure, he said.
On Aug. 23, Kraft Foods announced plans to cut prices by about 6 percent for its Maxwell House brand , following a decision on Aug. 16 by JM Smucker to cut pricesfor most of its brands, including Folgers, by 6 percent.
Not all traders are as optimistic about Starbucks' outlook as Difrisco. Traders Guy Adami and Joe Terranova both think that Starbucks is not a 'buy' right now.
"I agree that this is not the moment to buy," said trader Joe Terranova. "Goldman took this stock off the conviction buy list on July 7th. I’d also be looking for the exits." ______________________________
CNBC Data Pages:
CNBC's Companies in the News:
- Dollar General Posts Higher Profits, Raises Outlook
Barnes & Noble
Disclosure information was not available for Matthew Difriscoor his company.