Retailers will now be paying up to 12% more for packaged coffee from Starbucks. The company is trying to preserve its profits during this time of rapidly rising prices for green coffee beans.
Starbucks, the world’s largest coffee chain has already purchased all of the coffee beans it will need for 2011. The company is trying to control any more price increases in an effort to retain market share. Last week, Starbucks announced the new coffee price increases for retailers on the Seattle’s Best Coffee brand and Starbucks brand coffee.
A 12-ounce package of Seattle’s Best Coffee now has a suggested retail sale price of $7.99 (up a dollar). Starbucks Coffee will rise to $9.99 (also up a dollar). Starbucks said that while these are the suggested prices the individual stores would have the discretion on how much of the price increase they wish to pass on to consumers.
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