January 11, 2017 / 1:20 PM / in a year

Smucker hikes prices of Folgers, Dunkin' Donuts packaged coffee

(Reuters) - J. M. Smucker Co (SJM.N) said on Wednesday that it had raised prices of its packaged coffee products such as Folgers and Dunkin’ Donuts by an average of 6 percent in the United States.

The biggest U.S coffee roaster said it had hiked prices in response to a sustained increases in green coffee costs.

    Arabica coffee futures KCc1 rose to the highest level in almost six weeks on Tuesday, boosted by index fund buying, after major a Brazilian coffee exporter forecast smaller arabica and robusta crops for 2017-18.

    Last June, when there were ample supplies from Brazil, Smucker had cut retail prices on Folgers and Dunkin’ Brands Group Inc’s (DNKN.O) Dunkin’ Donuts coffees by 6 percent.

    Smucker said on Wednesday that its K-Cup pods were excluded from the price increase. The company is licensed to make packaged coffee and K-cup pods for Dunkin’ Donuts.

    Reporting by Aravind K in Bengaluru; Editing by Savio D'Souza

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