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Coffee prices hit a 14-year high this week, and it’s only a matter of time before java lovers will have to pay more in stores and coffee shops.
Coffee futures have doubled in the last year, closing at $2.46 per pound Thursday. That’s the highest price since May 1997, when coffee was trading at $3.20 per pound. Get the full story »
J.M. Smucker Co., the top U.S. packaged coffeemaker, raised prices for most of its coffee products, including Folgers, in a widely expected move as the cost of beans has soared 85 percent in eight months.
Though this was the third price increase in less than a year by the company known as the trendsetter, many in the industry have wondered how the company managed to wait so long as tight supplies of washed arabica coffee beans have continued to fuel the price rally. Get the full story »
