The J.M. Smucker Co. said Wednesday it is raising the prices of packaged coffee products sold in the U.S., including the Dunkin’ Donuts, Folgers and Cafe Bustelo brands.
List prices have increased by an average of 6 percent on those brands after sharp rises in the price of raw coffee, the company said in a statement. The company’s K-Cup pods are not affected.
The move comes at a time when coffee futures prices have been rising sharply, with the contract for March delivery gaining 8 percent in the year to date and 30 percent in the last 12 months, hurt by drought conditions in major coffee-producing countries.
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