Kraft Foods Raises Price of Coffee Brands Maxwell House and Yuban

TheStreet 0:51 mins

The cost of more ground coffee varieties is going up. Kraft Foods raised the prices of its Maxwell House and Yuban brands by 10%, according to the Wall Street Journal. That marks the company's first price hike on its ground coffees in more than three years. It's due to the spike in arabica coffee prices this year as a drought in Brazil has weighed on supplies. Brazil supplies a third of the world's coffee. The move follows a similar one from J.M. Smucker, which raised the prices of Folgers and Dunkin' Donuts last week by about 9% after bean costs rose. Excluded from the price hike will be all instant coffees, single-serve pods and Gevalia and Tassimo products.

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