J.M. Smucker plans to increase coffee prices by over 20% this year due to rising sourcing costs, with a third price hike expected in early winter. This follows previous increases in May and August, attributed to tariffs on imported beans. The company is adapting its sourcing strategies to mitigate costs. Despite anticipating a drop in coffee sales volume, Smucker expects to gain an additional $100 million in revenue this fiscal year, believing that consumer demand for coffee will remain strong amid inflationary pressures.

Source: https://www.supplychaindive.com/news/jm-smucker-raises-coffee-prices-over-20-percent-counter-tariffs/760079/