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Food & Beverage

Coffee Hits Thirteen Year High

September 09, 2010
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Coffee prices hit a 13-year high with prices up about 43 percent in the past three months, according to the Associated Press. The impact of the months-long climb is leading to higher retail coffee prices on several major brands, including Folgers, Dunkin'' Donuts and Millstone. Green Mountain Coffee Roasters Inc. plans to raise North American prices 10 percent to 15 percent next month on K-Cup portion packs for the Keurig Single-Cup brewing system. Last month, the J.M. Smucker Co. imposed an immediate average increase of 9 percent on most of its coffee products under the brand names of Folgers, Dunkin'' Donuts, Millstone and Folgers Gourmet Selections. Sen. Charles Schumer, D-N.Y., says he wants U.S. Trade Representative Ron Kirk to warn some major coffee growers in Brazil and Vietnam not to stockpile their crops. He said that could boost coffee futures contracts even more.
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