JM Smucker Hikes Coffee Prices by Average of 9%

J.M. Smucker (SJM) raised the price of a range of coffees by an average of 9%, citing the rising cost of green coffee.

The company raised the list price for most of its Folgers, Dunkin' Donuts, Millstone and Folgers Gourmet Selections coffees in the U.S. retail coffee market, the company said in a statement. Price changes are effective as of Tuesday.

The company raised the prices of the same brands by an average of 4% in May, Reuters reported.