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KRAFT FOODS INC (KFT)
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Kraft cuts Maxwell House coffee prices in U.S.

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05/18/2012 | 09:06pm CEST
Kraft cheese products are seen on the shelf at a grocery store in Washington

(Reuters) - Kraft Foods (>> Kraft Foods Inc) said on Friday it lowered prices on many of its U.S. coffees, including its flagship brand Maxwell House, citing lower green coffee costs since prices peaked last year, making it the second major U.S. roaster to lower its coffee prices this week.

(Reuters) - Kraft Foods (>> Kraft Foods Inc) said on Friday it lowered prices on many of its U.S. coffees, including its flagship brand Maxwell House, citing lower green coffee costs since prices peaked last year, making it the second major U.S. roaster to lower its coffee prices this week.

The move comes three days after J.M. Smucker Co. (>> The J.M. Smucker Company) cut the cost of well-known brands Folgers and Dunkin' Donuts by an average of 6 percent. It is the second cut to coffee prices since August 2011 for both companies.

"These changes reflect sustained decreases in the cost of green coffee," Kraft spokeswoman Bridget MacConnell told Reuters in an email.

The price cuts follow several consecutive price hikes due to a prolonged rally that lifted ICE arabica coffee futures to a 34-year high above $3 per lb in May 2011. Prices have since dropped more than 40 percent and are near a 20-month low.

Effective immediately, Kraft reduced prices on Maxwell House and Yuban roast and ground coffee brands by about 6 percent, and Gevalia roast and ground sold in retail outlets by approximately 10 percent, MacConnell said.

Non-flavored instant coffees, excluding those sold under the Maxwell House International trademark, are reduced by about 4 percent, she said.

Instant coffee is traditionally processed from robusta coffee beans. Robusta futures trading on LIFFE are currently down about 16 percent from their three-year high reached in March 2011. Recently, however, the market has soared on concerns about tight supplies, climbing about 12 percent in the past two weeks to tap an 8-1/2-month high at $2,235 per metric ton (1.1023 tons) on Friday.

(Reporting By Marcy Nicholson; Editing by Bernard Orr)

Stocks treated in this article : Kraft Foods Inc, The J.M. Smucker Company
Stocks mentioned in the article
ChangeLast1st jan.
KRAFT FOODS INC --End-of-day quote.
THE JM SMUCKER COMPANY -0.91% 115.6901 Delayed Quote.-2.97%
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Financials ($)
Sales 2018 26 952 M
EBIT 2018 4 616 M
Net income 2018 3 462 M
Debt 2018 16 475 M
Yield 2018 2,23%
P/E ratio 2018 17,43
P/E ratio 2019 15,63
EV / Sales 2018 2,92x
EV / Sales 2019 2,83x
Capitalization 62 281 M
Chart KRAFT FOODS INC
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Kraft Foods Inc Technical Analysis Chart | KFT | US50075N1046 | 4-Traders
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 50,8 $
Spread / Average Target 24%
EPS Revisions
Managers
NameTitle
Dirk van de Put Chairman & Chief Executive Officer
Brian T. Gladden Chief Financial Officer & Executive Vice President
Robin S. Hargrove Executive VP-Research, Development & Quality
Mark D. Ketchum Lead Independent Director
Lois D. Juliber Independent Director
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1st jan.Capitalization (M$)
KRAFT FOODS INC62 281
NESTLÉ-10.21%241 338
THE KRAFT HEINZ COMPANY-20.67%74 092
MONDELEZ INTERNATIONAL-1.89%62 281
DANONE-4.10%55 520
ASSOCIATED BRITISH FOODS-5.39%29 908