Kraft cutting US coffee prices by about 6 percent
NEW YORK (AP) - August 23, 2011 (WPVI) -- Kraft is lowering coffee prices in the U.S. by about 6 percent, one week after Smucker announced a similar move.
Kraft Foods Inc. said Tuesday that the price reduction covers its Maxwell House and Yuban brands and excludes Gevalia, Tassimo and the Maxwell House International line of specialty soluble beverages.
The Kraft price cut translates to 20 cents per pound on roast and ground coffees and 2 cents per ounce on instant coffees. The cut is partly the result of lower prices for coffee beans.
Smucker's price cut, also by about 6 percent, primarily affects its Folgers, Dunkin' Donuts and Folgers Gourmet Selections lines.
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