How Will The Rising Cost Of Coffee Affect Your Cup Of Joe?
With the World Cup just over a week away, hordes of revelers are about to descend upon Brazil. The party is about to get started, but Brazilian farmers may be more excited about rain than incoming soccer fans. After a drought in Brazil and a devastating fungus known as rust swept Central American ravaging the coffee crop, there are concerns that the coffee supply will not keep up with international demand this year, causing a spike in prices. On Tuesday some of those fears were realized as J. M. Smucker Co. (SJM) announced it's raising the price of its packaged coffee products sold through the Folgers and Dunkin' Donuts (DNKN) brands by an average of 9%. Fear not Dunkin Donuts regulars, the price hike only applies to packaged products sold in grocery stores, not the cup you get each morning from a Dunkin' Donuts location.
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