Smucker Slashing Packaged Coffee Prices
Smucker Slashing Packaged Coffee Prices
JM Smucker announced Tuesday that it will slash prices on its popular Folgers and Dunkin' Donuts coffee brands as the price of raw green coffee beans finally came down after months of rising prices. Earlier in the year, the company was forced to raise its coffee prices four times as coffee prices rose to levels not seen in decades. The company's latest hike, an 11 percent increase executed in June, set off a trend across the industry as Starbucks followed suit the very next day, raising its own packaged coffee prices by 17 percent.
Smucker said on Tuesday it would pass the savings reaped from falling green coffee prices onto consumers, slashing retail prices on all its packaged coffee products by an average of 6 percent. It is unknown at this time whether other companies like Starbucks, Kraft and Green Mountain Coffee Roasters will lower coffee prices as well.
JM Smucker announced Tuesday that it will slash prices on its popular Folgers and Dunkin' Donuts coffee brands as the price of raw green coffee beans finally came down after months of rising prices. Earlier in the year, the company was forced to raise its coffee prices four times as coffee prices rose to levels not seen in decades. The company's latest hike, an 11 percent increase executed in June, set off a trend across the industry as Starbucks followed suit the very next day, raising its own packaged coffee prices by 17 percent.
Smucker said on Tuesday it would pass the savings reaped from falling green coffee prices onto consumers, slashing retail prices on all its packaged coffee products by an average of 6 percent. It is unknown at this time whether other companies like Starbucks, Kraft and Green Mountain Coffee Roasters will lower coffee prices as well.
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