The J. M. Smucker Company has announced that it increased the list price for the majority of its coffee products sold in the United States, primarily consisting of items sold under the Folgers and Dunkin' Donuts brand names. Prices will increase an average of 10 percent on impacted items.
The increase in price is driven by sustained increases in green coffee costs.
Dunkin' Donuts brand is licensed to The J. M. Smucker Company for packaged coffee products sold in retail channels such as grocery stores, mass merchandisers, club stores and drug stores.
Throughout the latter part of 2010, arabica coffee stocks increased to a 12-year-high. Smucker’s has continually raised its prices to coincide with those increases.
The company will answer investor related follow-up questions during its Feb. 17 fiscal third quarter earnings conference call.
The pricing announcement does not pertain to Dunkin’ Donuts coffee for sale in Dunkin’ Donuts restaurants. Upon the most recent Smucker’s coffee price hike, Dunkin’ Donuts franchisees refused to charge more for a cup of joe.
