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http://www.chicagotribune.com/business/chi-080212-coffee,0,2029151.storyKraft Foods hikes coffee prices Maxwell House, Yuban coffee prices increase about 4 percent
By Mike Hughlett | Tribune staff reporter 4:46 PM CST, February 12, 2008 In a sign of rapidly rising foods prices, Kraft Foods said Tuesday it's raising coffee prices for the second time in four months.
Northfield-based Kraft said the retail price of its Maxwell House and Yuban coffees were boosted Tuesday by roughly 4 percent. The reason: soaring prices for green coffee, said Bridget MacConnell, a Kraft spokeswoman.
Indeed, coffee prices in London commodity markets recently hit a 10-year high on news of falling output in Vietnam, a huge exporter of the Robusta strain of coffee bean.
Retail coffee prices over the past year rose at a 6 percent clip, according to the Bureau of Labor Statistics. The increase was one of the higher coffee price spikes of the past decade.
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