{"id":30406,"date":"2024-06-09T15:39:20","date_gmt":"2024-06-09T15:39:20","guid":{"rendered":"https:\/\/sasquatchnewsonline.com\/?p=30406"},"modified":"2024-06-09T15:39:20","modified_gmt":"2024-06-09T15:39:20","slug":"folgers-management-announces-imminent-price-increase","status":"publish","type":"post","link":"https:\/\/sasquatchnewsonline.com\/?p=30406","title":{"rendered":"Folgers\u2019 Management Announces Imminent Price Increase"},"content":{"rendered":"

Amid the fiscal babble of an earning report, the parent company of Folgers coffee has a message coffee drinkers may find difficult to swallow.<\/p>\n

The J.M. Smucker Co., which sells Folgers, Caf\u00e9 Bustelo and Dunkin brand coffee, reported on the company\u2019s earning<\/a>s last week, with CEO Mark Smucker offering a sobering prediction of what was coming in terms of coffee prices.<\/p>\n

\u201cThe coffee category continues to experience commodity volatility and overall meaningful inflation,\u201d he said in the remarks posted online.<\/p>\n

\u201cIn response to recent higher green coffee costs that we will begin to incur during the first quarter, we are taking a list price increase across parts of our portfolio in early June,\u201d he said.<\/p>\n

In trying to say the bite<\/a> won\u2019t be too bad, he added that the company seeks \u201ca balance between recovering inflationary input costs, while providing consumers with attractive options ranging from value to premium.<\/p>\n

\u201cWe expect the coffee category to remain resilient, despite recent inflationary pressures and volume declines, given consumers\u2019 love of daily coffee rituals and continued strength in at-home consumption,\u201d he said.<\/p>\n

Bloomberg<\/a> noted that \u201cfutures for robusta beans used in instant coffee have soared more than 50% this year to fresh highs as production in key grower Vietnam buckles under drought.\u201d<\/p>\n

Prices for the arabica coffee bean are also climbing.<\/p>\n

Imported coffee prices<\/a> have risen 65 percent January 2021, according to an article in Food Manufacturing<\/a> penned by Cobank.<\/p>\n

Consumers are now paying 20 percent more for their ground coffee than in April 2023.<\/p>\n

CoBank\u2019s Knowledge Exchange says that trend will continue.<\/p>\n

\u201cFollowing the pandemic when restaurants were closed, people have gained some experience trying to replicate their favorite dining-out experiences at home,\u201d said Billy Roberts, senior food and beverage economist for CoBank.<\/p>\n

\u201cIt wouldn\u2019t be surprising if, due to sharply higher coffee prices, some consumers turn to recreating their favorite coffee or espresso drinks at home with store-bought flavorings or inclusions,\u201d he said.<\/p>\n

With supply issues in nations such as Brazil and Colombia, as well as Vietnam, prices will not be falling<\/a> any time soon, he said.<\/p>\n

Bidenomics! Soaring Coffee Prices Force Folgers\u2019 Owner To Increase Supermarket Prices#coffee<\/a> #inflation<\/a> #bidenomics<\/a>
\nhttps:\/\/t.co\/oEiATAXBy6<\/a><\/p>\n

\u2014 KAG3-CO (@Kag3C) June 8, 2024<\/a><\/p>\n\n

\u201cNearly all of the coffee consumed in the U.S. is imported, so higher prices are likely until the production challenges subside,\u201d said Roberts.<\/p>\n

\u201cWhile it\u2019s highly unlikely U.S. consumers are going to significantly curb their consumption due to high prices, they may get creative with at home coffee drinks and lean on store-bought flavorings to replace more expensive specialty drinks from coffee shops,\u201d he said.<\/p>\n

This article appeared originally on The Western Journal<\/a>.<\/p>\n

The post Folgers\u2019 Management Announces Imminent Price Increase<\/a> appeared first on The Gateway Pundit<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Amid the fiscal babble of an earning report, the parent company of Folgers coffee has a message coffee<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-30406","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nFolgers\u2019 Management Announces Imminent Price Increase - Sasquatch News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sasquatchnewsonline.com\/?p=30406\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Folgers\u2019 Management Announces Imminent Price Increase - 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