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Starbucks to hike coffee prices in some U.S. outlets
July 6, 2015 / 7:30 PM / 2 years ago

Starbucks to hike coffee prices in some U.S. outlets

July 6 (Reuters) - Starbucks Corp said it would raise prices for some of its coffee beverages by 5-20 cents in the United States from Tuesday.

Starbucks, however, will leave the prices of some popular beverages such as the Grande Brewed Coffee and the Frappuccino unchanged in most U.S. outlets, it said on Monday.

The price hike comes at a time coffee prices have cooled from highs hit last year after a drought in the world’s biggest coffee producer, Brazil, triggered supply concerns.

Arabica coffee futures on ICE fell to a one-and-a-half year low on Monday.

Starbucks said the price hikes would affect fewer than 20 percent of its customers and would increase the average ticket by 1 percent.

The price hike, which will be implemented “market-by-market and product-by-product,” will not include food items or packaged coffee, Starbucks spokeswoman Lisa Passe told Reuters.

Tall (12 oz) and Venti (20 oz) cups of brewed coffee - small and big in Starbucks’ lingo - will cost 10 cents more each in most U.S. markets, the company said in an emailed statement.

For example, a Venti coffee will now cost $2.45 in most U.S. outlets.

Starbucks raised prices last year for most of its drinks, including the Grande Brewed Coffee, for the first time in four years.

U.S. roaster J.M. Smucker Co said last week that it would cut prices for most of its Folgers and Dunkin’ Donuts coffee brands to bring back customers. (Additional reporting by Yashaswini Swamynathan in Bengaluru; Editing by Kirti Pandey)

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