J.M. Smucker Raises Coffee Prices Months After Spike In Coffee Futures

Coffee lovers can expect to pay a little bit more for a cup, now that coffee futures’ meteoric February rise has finally made its way to the grocery store. The J.M. Smucker Company (NYSE:SJM) has announced that it will raise the prices on Folgers (14% of unit coffee sales in the US) and Dunkin Donuts packaged coffee by 9% each, reports Venessa Wong for Bloomberg. Other retailers are expected to follow suit since the same increase in raw coffee prices will impact all of them to some extent.

Coffee futures driven by drought in Brazil

Coffee futures jumped back in February when Brazil, the world’s largest coffee grower, was hit...