Kraft jacks up price of premium Gevalia coffee
SINGAPORE, July 2 (Reuters) - Kraft Foods Group Inc will push up the price of its premium Gevalia brand coffee by approximately 7 percent, effective July 28, due to sustained increases in the green coffee market, a spokesman said on Tuesday.
While the retail price of the Gevalia 12 oz retail bagged coffee will be much higher, Gevalia single-serve cups, Gevalia e-commerce SKUs and Tassimo Gevalia T Discs are not included in the price increase, Russ Dyer said in an email.
New York arabica futures have gained more than half this year on uncertainty over drought damage to crops in main coffee producer Brazil.
Last month, Starbucks Corp said it will raise prices on some drinks offered by its U.S. shops and also boost list prices on its own brand of packaged coffee sold in supermarkets and other retail outlets.
(Reporting by Lewa Pardomuan; Editing by Michael Perry)
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