Kraft raises U.S. coffee prices
May 24, 2010
by Eric Schroeder
NORTHFIELD, ILL. — Kraft Foods Inc. said it is increasing prices on most of its Maxwell House and Yuban roast and ground coffees by 10c per lb, or approximately 4%, effective immediately.
“The price increase is due to sustained increases in the cost of Arabica beans, crude oil and other costs,” said Bridget A. MacConnell, senior manager of corporate affairs — beverages, at Kraft.
The price hike does not include Maxwell House 100% Colombian, Wake Up Roast, Singles, Filter Packs, or any instant coffees.
The announcement followed a similar decision by the J.M. Smucker Co., Orrville, Ohio. Smucker said it is increasing prices on coffee products sold in the U.S. retail coffee market by an average of 4%. The price increase impacts the Folgers, Dunkin’ Donuts, Millstone and Folgers Gourmet Selections brands.
In announcing its decision to raise prices, Smucker cited sustained increases in green coffee, fuel and packaging costs.