Kraft Foods Inc. reduced the prices of several products we coffee as the cost of coffee continues to fall.
Bridget MacConnell, a spokesman for Kraft, attributed the move to "a decrease in the cost of green coffee. Green coffee is coffee that is yet to be roasted.
Price of Arabica, which is the most consumed variety of coffee in the world, are down more than 20% this year, as the market expects a potential record-size crop of top producer to the Brazil.
Kraft price reduced on Maxwell House and Yuban roast and coffee of the ground about 6% marks, said Mr. MacConnell.
Gevalia coffee roasted and ground sold in retail stores have been reduced by approximately 10%, she added. The price reductions are effective immediately.
There was also a reduction of 4% of the approximate price for the instant coffee non-scented, other instant coffees sold under the brand name Maxwell House International, she said.
Ms. MacConnell said the last time Kraft reduced prices in the month of August, after that they were raised in March when the Arabica prices have been climbing to a high of 14 $ 3.06 lbs, which was seen in May 2011.
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