Starbucks laughs in the face of Folgers

Cincinnati-based Procter & Gamble Co. raised prices of its Folgers ground coffee by 15 cents per 10.5- to 13-ounce can, effective immediately, reflecting recently higher green coffee prices, spokesman Bryan Brown said Monday.

Folgers increased its instant coffee price by 24 cents per 8-ounce jar, or 6%, he said. Folgers Singles prices and Folgers cappuccino prices were left unchanged. Folgers gourmet prices also remain unchanged.

Brown said the list price of Folgers products reflects the “price of green coffee sold on the commodity market.” When green-coffee market changes are significant, the company adjusts its list prices.

Coffee demand is growing in the U.S. and globally, with U.S. at-home consumption rising 3% to 4% annually, according to U.S. roasters.