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CAMDEN, N.J. and WATERBURY, Vt. - At a time when commodity prices have increased and energy costs continue to soar, Campbell Soup Company and Green Mountain Coffee Roasters, Inc. have become the latest CPG manufacturers to serve price increases to the market.
Campbell announced yesterday an increase in the list price of selected soups and other domestic retail products effective Feb. 28. The hike represents an approximate 4.8 percent weighted average price increase across Campbell's U.S. Soup, Sauces and Beverages segment.
Campbell said in a statement that the rise is intended to partially offset cost increases in commodities, ingredients, and packaging materials.
Over the past four years, Campbell said, it has invested in product quality, new products, and more convenient packaging, including easy-open lids on most canned soup products and plastic packaging for its soup, sauce, and beverage brands.
Green Mountain Coffee Roasters, Inc. also revealed yesterday a price increase of approximately $.35 per pound of roasted coffee. The company cited three reasons: a sharp increase in the commodity price for green unroasted coffee, increasing differentials for premium quality coffees, and higher energy and transportation costs.
Green Mountain said the price increase will be effective on orders that ship beginning Jan. 10.