USA: P&G to raise price of Folgers foodservice coffee
US consumer goods giant Procter & Gamble (P&G) is to raise the price of its Folgers coffee sold to foodservice outlets due to higher costs for unroasted beans.
"Foodservice coffee prices will rise 25 cents per pound, or 6%, and office coffee prices will rise 15 cents per pound, or 4%, effective 3 May," said Tonia Hyatt, a spokeswoman for Folgers, which is usually the first of the major coffee roasters to raise its prices.
"There will be no change in retail prices or our other commercial lines," Hyatt was quoted by Reuters as saying. She also said that the recent rise in crude oil prices had increased the cost of shipping the beans.
Rival coffee roaster Sara Lee raised the prices of its foodservice coffee at the end of March. A spokeswoman for Kraft Foods said she had not been notified of any changes to the company's coffee prices.
Companies: Sara Lee Corp.
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