JM Smucker Co. lowers coffee prices 6%

Savings reflect drop in green coffee prices

8/16/2011

ORRVILLE, Ohio (AP) — J.M. Smucker Co. said Tuesday it lowered the list price for most of its coffee products sold in the U.S. by an average of 6 percent to reflect a drop in green coffee prices.

The affected items are mainly sold under the Folgers, Dunkin’ Donuts, and Folgers Gourmet Selections brand names, the company said.

Smucker raised coffee prices four times this year to relieve pressures from rising coffee bean costs. Its last increase, in May, raised prices 11 percent.

The Dunkin’ Donuts brand is licensed to Smucker for packaged coffee products sold by grocery stores, mass merchandisers, club stores, and drug stores. The price change does not include Dunkin’ Donuts coffee or other products sold in Dunkin’ Donuts restaurants, Smucker said.

Orrville, Ohio-based Smucker is the maker of Folger’s coffee, Jif peanut butter and its namesake jams and jellies.