A press release says the price increase affects all portion packs sold by Keurig for use in its Keurig brewing systems, traditional bagged, fractional packs, and bulk coffee products.
"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."
Green Mountain says the price increases are attributed to a number of factors including cost environment in the coffee and consumer packaged goods industries, prices of green coffee and cocoa, packaging materials, energy, and transportation costs.
The price increase goes into effect on November 3.
Copyright 2016 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.