COMPANY TO INCREASE PRICE OF FOLGERS COFFEE.Byline: Tim Coulter and Christine Walton Bloomberg Business News Procter & Gamble Co. said it will raise prices on its Folgers coffee by as much as 6.6 percent in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. next month, a move likely to be followed by other coffee companies. The Cincinnati-based consumer products company blamed a recent surge in bean bean, name applied to the seeds of leguminous trees and shrubs and to various leguminous plants of the family Leguminosae (pulse family) with edible seeds or seed pods (legumes). The genera and species encompassed by the term bean are many and variable. prices due partly to low supplies and estimates that Brazil's coffee crop this year will be smaller than previously forecast. Effective March 17, P&G said, it is boosting the price it charges retailers for a 13-ounce can of regular ground Folgers coffee by 15 cents to $2.41. The price of Folgers instant coffee will rise 10 cents to $3.66 for an 8-ounce container, while a 13-ounce can of Folgers decaffeinated coffee Noun 1. decaffeinated coffee - coffee with the caffeine removed decaf coffee, java - a beverage consisting of an infusion of ground coffee beans; "he ordered a cup of coffee" also will rise 10 cents, to $3.11. At least some of the boost in the wholesale prices is likely to be passed along to consumers. Coffee futures, a benchmark for bean prices, have soared 40 percent this year. Coffee for March delivery climbed 4.90 cents to $1.6355 a pound Tuesday on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Coffee, Sugar & Cocoa Cocoa, city, United States Cocoa, city (1990 pop. 17,722), Brevard co., E Fla., on the Indian River (a lagoon), a segment of the Intracoastal Waterway; inc. 1895. It is a tourist and arts center in a region where citrus fruits are grown. An 8-mi (12. Exchange, the highest price for the most active contract in almost 21 months. P&G said a strike in Colombia that threatens exports from the world's second-largest coffee grower also has contributed to the recent jump in bean prices. Coffee traders Traders Individuals who take positions in securities and their derivatives with the objective of making profits. Traders can make markets by trading the flow. When they do this, their objective is to earn the bid/ask spread. have said a price increase by Folgers, the industry leader in the United States, likely will lead others, such as Philip Morris Cos., to boost prices. |
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