That Folgers in your cup will now cost you a little bit less.
J. M. Smucker (NYSE:SJM) said today it is cutting the list prices for the majority of the coffee products it sells in the United States.
Items sold in grocery stores, club stores and drug stores under the Folgers, Dunkin Donuts and Folgers Gourmet Selections brand names will decrease an average of six percent.
After price increases driven by soaring green coffee futures, Smucker said the decrease is driven by recent declines in the green coffee futures market.
Other coffee brands, like Kraftís (KFT) Maxwell House, have raised prices in recent months to keep up with rising costs, as have coffee chains like Starbucks (NASDAQ:SBUX) and Peetís Coffee & Tea (PEET).
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