In its fiscal-second quarter earnings report in November, Smucker said "escalating commodity costs will continue to present challenges." Its U.S. retail oils and baking segment saw profit decline 10% in the period as costs rose for milk, sugar, and soybean oil.Green coffee costs were also "significantly higher in the second quarter of 2011," the company said, leading it to raise prices earlier in the year. Smucker raised prices of its Folgers and other well-known brands by around 9%, its largest price hike in years. Investors will look for an update from Smucker when it reports its third-quarter results on Feb. 17. Smucker said in Nov. it expected "to recognize steadily higher green coffee costs during the remainder of the year," and said "higher costs were also realized for milk, sugar, and soybean oil while lower costs were recognized for peanuts and flour." On Feb. 8 Smucker said it raised retail prices for most of its coffee products -- particularly those under the Folgers and Dunkin' Donuts brands -- by about 10%, following the two price increases in 2010, as unroasted bean prices continued to rise.