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(Robert Caplin/Bloomberg News)
Kraft Foods Inc. said Thursday that it raised its U.S. list prices for Maxwell House and Yuban ground coffees by 22 percent and its instant coffee by around 10 percent.
The price hikes, which were effective on Wednesday, marked the company’s fourth coffee price hike in a year and came after arabica coffee futures soared to a 34-year high this month. 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 »
