ORRVILLE, OH -- The J.M. Smucker Co. has cut the list price for its packaged Folgers and Dunkin' Donuts coffees by 6% on average to adjust for sustained declines in green coffee costs.
The Dunkin' Donuts brand is licensed to the company for retail sales.
Smucker cut prices by similar amounts in August 2011 and again in June 2012, following a 23% price hike in 2010 due to rapidly rising coffee costs.
Arabica coffee futures have tumbled by 55% from the 34-year high above $3 a pound reached in May 2011. On Feb. 19, the market closed at the lowest level in more than two and a half years, at $1.38 a pound.