J.M. Smucker raising coffee prices by 9%
J.M. Smucker Co. said Tuesday morning that it plans to increase prices on an array of products in its coffee lineup sold in the U.S., specifically a majority of those under the Folgers, Dunkin’ Donuts and Millstone brands.
Since June 1, coffee futures have surged nearly 25% as harsh weather led to two seasons of disappointing harvests in key production areas such as Central American and Colombia.
The poor consumer taking another hit to its tight wallet. Now we have to deal with more cranky people in the morning cause of this.
There is the Dow Jones-UBS Coffee Subindex Total Return (NYSE:JO) for those who want to follow the coffee market via a ETN (Exchange Traded Note).