NEW YORK, June 7 Kraft Foods Group Inc
said on Saturday it raised U.S. retail prices for its well-known
Maxwell House and Yuban roast and ground coffee brands by an
average of 10 percent due to rising green bean costs, effective
The move follows J.M. Smucker Co's price increase of
around 9 percent to Folgers and Dunkin' Donut roast and ground
retail brands earlier in the week.
These are the first official list price increases for both
roasters since May 2011.
ICE arabica coffee futures soared nearly 90 percent
between January and April to the highest level in more than two
years at $2.19 per lb, following a drought in top grower Brazil.
Arabica futures prices have since dropped around 20 percent.
A Kraft spokeswoman said in an email that the company's
instant coffees, single-serve pods, Maxwell House filter packs,
Maxwell House International, Gevalia and Tassimo brands were
excluded from the price increase.
(Reporting by Marcy Nicholson; Editing by Eric Walsh)