Dan Cox on CNBC: Price Hike for Packaged Coffee is Here

Dan Cox is on CNBC today talking about the price hike in green coffee bean costs. (See video here)

Prices for coffee beans have soared this year, driving coffee contracts on the New York Futures Exchange up 54 percent. One culprit is the roya fungus that damaged crops as it swept through growing regions in Central America. A drought has also hit Brazil, the world’s largest coffee producer.

J.M. Smucker Co said on Tuesday that it had raised list prices by an average of 9 percent on most of its U.S. packaged coffee, primarily the well-known Folgers and Dunkin’ Donuts brands, for the first time since 2011 because of soaring green coffee costs.