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.
Go deeper with GlobalData
“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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
