Higher price for coffee beans hitting retail market
By Dayton Business Journal
J.M. Smucker Co. is again increasing the price of coffee it sells to retailers, citing the climbing cost of green coffee beans.
The Orville-based maker of Smucker’s jellies, Crisco shortening and Jif peanut butter said Tuesday it has hiked prices 11 percent on most of the coffees it supplies to merchants.
The coffee brands hit by the price increase include Millstone, Folgers and Dunkin’ Donuts.
J.M. Smucker is licensed to sell the Dunkin’ Donuts coffee to retailers such as supermarkets, so its price hike does not change coffee prices at the doughnut shop chain.
Smucker joins Starbucks Corp., Sara Lee Corp. and Kraft Foods in raising prices since last spring, all of the companies saying the hikes were tied to increases in raw coffee bean costs.