“The J. M. Smucker Company…announced today that it increased the list price for the majority of its coffee products sold in the United States, primarily consisting of items sold under the Folgers®, Dunkin’ Donuts®, Millstone®, and Folgers® Gourmet Selections® brand names. Prices will increase an average of 11 percent on impacted items.”
This price hike motivated AP to run a story summarizing the state of the coffee industry and market and the experiences with soaring costs – see “Coffee drinkers keep chugging, as prices rise“. AP notes that SJM has increased coffee prices four times in the past year. SJM’s stock performance suggests this pricing power has contributed to a strong bottom line.
Source: Stockcharts.com