The price of Smucker packaged coffee has increased by 3.5%

The price of Smucker packaged coffee has increased by 3.5% People who are used to buying large-packaged coffee in supermarkets are about to lose money again, because the American coffee industry...

The price of Smucker packaged coffee has increased again. It has increased by 3.5%. People who are accustomed to buying large packaged coffee in supermarkets are about to lose money again, because JM Smucker Food Company, a major American coffee manufacturer, announced on the 24th that it will increase the prices of two brands of coffee at Folgers and Dunkin’ Donuts donut shops by an average of 11%. This is the company's second wave of double-digit price increases this year. Smucker Foods blamed the rising cost of green coffee for the continued increases. The company said most U.S. coffee products will see price increases. Coffee industry players and analysts pointed out that although demand in emerging markets has increased and supply has dropped sharply due to bad weather in some major producing areas, speculation may be the main reason for the price increase. Green coffee prices surged 77% last year. Smucker Foods noted that the price increases include packaged coffee from Smucker’s Millsotne and Folgers Gourmet Selections. Dunkin’ Donuts brand coffee is only affected by packaged coffee sold in grocery stores, clubs, pharmacies and mass merchandisers. Cups of coffee sold at Dunkin’ Donuts chains across the country are not products supplied by Smucker Foods and therefore have nothing to do with the price increase. Smucker Foods, headquartered in Orrville, Ohio, has announced four increases since last year, including a 4% increase in May last year, a 9% increase in August, and a 10% increase in early February this year. In addition, Starbucks, the world’s largest coffee chain, had raised its price for Starbucks and Seattle’s Best packaged coffee sold to retail stores by 12% as early as March due to increased costs. The Labor Department said the price consumers paid for coffee rose 3.5% in March.