Kraft cuts the price of Maxwell and other brands of coffee in the United States
Kraft Foods Inc.(KFT) announced Friday that it will cut the price of its flagship Maxwell House and some instant coffee in the United States due to the continued decline in raw coffee prices.
Three days earlier, U.S. food giant J.M. Smucker Co(SJM) also announced an average price cut of 6% for packaged coffee products in the U.S. market, including well-known brands such as Folgers and Dunkin Donuts.
This is the second time Kraft and Smucker have cut coffee prices since August last year.
Kraft said it would cut prices for Maxwell and Yuban brand roasted and ground coffees by about 6 per cent and for Gevalia brand roasted and ground coffees sold in retail stores by nearly 10 per cent.
The company will also reduce the price of non-flavored instant coffee by about 4 per cent, except for products sold under the Maxwell House International trademark. (Swirl)
(Editor: Leo)
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