Keurig Green Mountain, Inc. today announced a price increase of up to 9% on all portion packs sold by Keurig for use in its Keurig brewing systems and on all its traditional bagged, fractional packs, and bulk coffee products, effective November 3, 2014.
According to the company the price increase is in response to several factors, including a sustained increase in the price of green coffee and cocoa, along with increases in packaging materials, energy, and transportation costs. Over the past year, green coffee prices have increased approximately fifty-five percent, the company said.
“We have been closely monitoring increasing costs, including the cost of green coffee,” said John Whoriskey, president of U.S. sales and marketing at Keurig. “Many of our competitors already have implemented price increases in light of the reality of sustained input cost increases. After careful review, we determined that it is necessary for us to adopt a small price increase in light of these higher costs. We understand that consumers have many beverage options, and we will continue to innovate and price competitively to win consumers’ business.”