J.M. Smucker and Starbucks have announced the latest round of prices increases as green coffee prices hit a 14-year high and continue to climb.
The Orville, OH, manufacturer of Folgers, Millstone and Gourmet Selections said prices will increase 11% on average. This is Smucker's fourth price increase on its U.S.-sold coffees this year. Smucker's is also the licensor of Dunkin' Donuts packaged coffee.
Seattle-based Starbucks Corp. said its packaged coffee prices for coffee sold in its retail stores will jump 17% beginning July 12. In March, Starbucks raised the price of the packaged coffee it sells in grocery stores. And last September, it raised the price of some of its coffee drinks, attributing the hike to the rising cost of coffee beans.
Sara Lee, Kraft and Green Mountain Coffee have all enacted similar prices increases this year.