UPDATE 1-Maxwell House, Yuban coffee prices lowered

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NEW YORK Dec 9 (Reuters) - Kraft Foods Inc (KFT.N) lowered its list prices for select Maxwell House and Yuban ground and instant coffees, effective immediately, a company spokeswoman said Tuesday.

The drop followed J.M. Smucker Co's (SJM.N) announcement on Dec. 5 that it cut list prices on four Folgers coffee products because of a sustained decline in the cost of green beans. It is the fifth price change by major U.S. roasters in 2008, a volatile year for coffee futures contracts.

Kraft spokeswoman Bridget MacConnell cited a "decrease in costs associated with green coffee prices."

Kraft cut select ground Maxwell House and Yuban coffees by 10 cents per lb equivalent. Instant Maxwell House, Instant Yuban and Instant Sanka were decreased 2.5 cents per ounce, MacConnell said. (Reporting by Marcy Nicholson; Editing by John Picinich)