Kraft Foods Group (KRFT) said on Saturday it raised U.S. retail prices on some of its ground coffees for the first time in more than three years.
According to Reuters, the increase drove the price of Maxwell House and Yuban brands up 10% and follows the increase of 9% by chief competitor Folgers, owned by J.M. Smucker and Dunkin’ Donuts earlier this week.
These are the first official list price increases for both roasters since May 2011, the publication said.
The price increases are a sign that a spike in arabica-coffee prices this year are trickling down to consumers. Kraft however, said the price increase doesn’t apply to its instant coffees, single-serve pods, Maxwell House filter packs, Maxwell House International, Gevalia and Tassimo brands.
Shares of Kraft closed at $59.72 on Friday.
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply