JM Smucker Hikes Coffee Prices

Coffee lovers can expect to pay bit more for a cup of brew. J.M. Smucker Co said on Tuesday that it had raised list prices on most of its U.S. packaged coffee by, primarily Folgers and Dunkin' Donuts brands, for the first time since 2011 because of soaring green coffee costs, Reuters reported. Smucker raised prices by an average of 9 percent and the move is likely to trigger price hikes by other major U.S. coffee roasters. Coffee prices have shot up this year, due to a severe drought in Brazil that wreaked havoc on this year's harvest of Arabica beans.

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