Kraft Foods Group Inc., makers of Maxwell House Coffee and premium brand Gevalia coffee, has announced that it will be lowering it’s retail listing price for Gevalia coffee for the second year in a row. This is after Arabica coffee futures fell to the lowest they’ve been in three years.
Starting Sunday, 12 oz. bags of the coffee will be cut by 6%, dropping the price from $8.39 a bag to $7.89 a bag. This price drop is following the last price drop of 10% in May of 2012. This was following a drop to $1.41 per pound at the end of May the same year.
Kraft is not the only company dropping their prices, as many other coffee producers have chosen to do the same following the price lowering, including Smucker’s Folgers brand coffee. Gevalia single serve cups, t-discs for Tassimo, and E-Commerce SKU’s will not be affected by this price drop.
Kraft also reduced prices on its Maxwell House coffee by 6%, Yuban coffee by 6%, instant coffees by 5%, and Sanka decaffeinated coffee by 5%.