Kraft raises Maxwell House, Yuban retail coffee prices by 10 pct

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Kraft Foods Group Inc said on Saturday it raised U.S. class="mandelbrot_refrag">retail prices for its well-known Maxwell House and Yuban roast and ground coffee brands by an average of 10 percent due to rising green bean costs, effective June 6.

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The move follows J.M. Smucker Co's price increase of around 9 percent to Folgers and Dunkin' Donut roast and ground class="mandelbrot_refrag">retail brands earlier in the week.

These are the first official list price increases for both roasters since May 2011.

ICE arabica coffee class="mandelbrot_refrag">futures soared nearly 90 percent between January and April to the highest level in more than two years at $2.19 per lb, following a drought in top grower class="mandelbrot_refrag">Brazil. Arabica futures prices have since dropped around 20 percent.

 
 
 

A Kraft spokeswoman said in an email that the company's instant coffees, single-serve pods, Maxwell House filter packs, Maxwell House International, Gevalia and Tassimo brands were excluded from the price increase. (Reporting by Marcy Nicholson; Editing by Eric Walsh)

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