Folgers’ Management Announces Imminent Price Increase
Amid the fiscal babble of an earning report, the parent company of Folgers coffee has a message coffee drinkers may find difficult to swallow.
The J.M. Smucker Co., which sells Folgers, Café Bustelo and Dunkin brand coffee, reported on the company’s earnings last week, with CEO Mark Smucker offering a sobering prediction of what was coming in terms of coffee prices.
“The coffee category continues to experience commodity volatility and overall meaningful inflation,” he said in the remarks posted online.
“In response to recent higher green coffee costs that we will begin to incur during the first quarter, we are taking a list price increase across parts of our portfolio in early June,” he said.
