TORONTO – Even with the price of coffee beans falling, a cup of joe at your neighbourhood Starbucks could be a little more expensive starting Tuesday.
The increase will be between 5 and 20 cents and the drinks affected will vary by region.
This year’s slate price increase, on the other hand, has nothing to do with the cost of coffee.
Brewed coffee will see increases between 10 and 20 cents, depending on size.
Prices haven’t changed on the drinks that are covered by the hike for a year and a half to three years, Suppa said. The Company also sells a variety of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
A rep for Sbux Lisa Passe said the increase affects mostly hot drinks, which means we’ll all be affected come fall/winter.
In fact, the J.M. Smucker Company reduced the cost of its Folgers and Dunkin Donuts coffee brands by six per cent in the United States.
The increase comes from an overall need to manage business costs, including labor and rent expenses, a Starbucks spokeswoman said.
On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Schultz Howard D, Director officer (chairman and ceo) of Starbucks Corp, unloaded 200,000 shares at an average price of $52.83 on June 10, 2015.
However, according to reports most stores are expected to raise the prices on their tall (12-ounce) and venti (20-ounce) brewed coffee, as well as the grande (16-ounce) latte.