J.M. Smucker shares were unchanged in premarket trading Tuesday after closing Monday at $76.91. J.M. Smucker said that green coffee costs were "significantly higher in the second quarter of 2011." Smucker raised prices of its Folgers and other well-known brands by around 9% earlier this year. Starbucks ( SBUX) said earlier this month that it already contracted its coffee purchases for the remainder of fiscal 2011, locking in its costs, so it likely won't need to raise prices in the near-term.
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