Coffee Price Increases
The J. M. Smucker Company announced that it will increase the list price for the majority of its Folgers, Dunkin' Donuts, Millstone, and Folgers Gourmet Selections coffee products sold in its U.S. retail coffee market effective August 3, 2010. Prices will increase an average of 9 percent on impacted items.
The increase in price is driven by sustained increases in green coffee costs. The Company is currently in its quarter-end quiet period and, therefore, will answer investor related follow up questions during its August 20, 2010, first quarter earnings conference call.