|
 Kraft Foods Inc. says it is cutting its U.S. coffee prices in
response to a drop in the price of unroasted beans.
The food maker says it is immediately lowering the price for its
Maxwell House and Yuban coffee by 6 percent. It is dropping prices
for Gevalia coffee sold in retailers by 10 percent. And it is
reducing the price for all of its instant coffees except Maxwell
House by 4 percent.
The move comes days after J.M. Smucker Co. cut the prices of its
Folgers, Dunkin' Donuts and other coffee brands by 6 percent.
Coffee companies raised their prices several times in 2010 and 2012
after growing demand, poor weather and other issues drove up
commodity costs for beans.
[Associated
Press] Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed. |
