Why one major company is cutting coffee prices

NEW YORK - The J. M. Smucker Co. (SJM) is cutting prices for the majority of its coffee products sold in the U.S., including Folgers and Dunkin Donuts brand coffee sold in stores.

The Orrville, Ohio-based food company said prices decreased an average of 6 percent on the affected items because of sustained declines in futures prices for unroasted coffee beans. K-Cup pods were excluded from the price cut.

Dunkin Donuts coffee is licensed to Smucker for sale in stores.

Smucker's shares rose 45 cents to $108.86 in mid-morning rading.