Percolate on this: After months of popular brands of coffee rising at grocery stores, a downward turn in coffee futures is causing those prices to dip back down again. So now you can get a jolt in your system without having to complain that coffee is so expensive.
CNN reports on the lowering futures, noting that they had started to climb in late 2010 before dropping by 1.7% over the last six months. Those savings are passed on to customers buying their caffeine fixes, whether at the grocery store or java shop.
Kraft cut Maxwell House by 6%, or about 20-cents per pound of coffee, along with equal cuts from Folger, Millstone and Dunkin’ Donuts, all of which are owned by J.M. Smucker Co.
Many brands started raising prices last August by about 10%, followed by another 10% in February and 11% in May. Starbucks hitched prices by 17% in May as well. The change could be due to the fact that Colombia, Mexico, Peru and many Central American countries are big coffee bean harvests.
Whatever the reason, the relief and the cheaper caffeination are welcome!