ORRVILLE, OH -- J.M. Smucker Co. has cut the list price of most of its packaged coffees sold in the U.S. by an average 6% to adjust for sustained declines in green coffee costs.
Smucker's packaged coffees include Folgers, Millstone and Café Bustelo, along with Dunkin’ Donuts, which is licensed to the company for sale in retail channels.
Smucker cut prices by a similar amount last August, following a 23% price hike in the previous year due to rapidly rising coffee costs.
Last week’s price for arabica beans was about $1.90 a pound, down from over $3 per pound a year ago. Robusta beans currently cost about $1.14 a pound, down 10% from last June’s five-year high of $1.26 per pound.