Nestle Will Lift Coffee Prices, Shrink Bags as Beans Get Pricier [Yahoo! Finance Canada]
NESTLE S.A S/ADR (NSRGY)
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Source: Yahoo! Finance Canada
raising prices and make packs smaller to limit the impact of higher bean prices on its bottom line. Most Read from Bloomberg The Nescafe and Nespresso maker will also lean into soluble and capsule coffees, said David Rennie, head of coffee brands, at the company's capital markets day on Tuesday. The commodity represents a lower proportion of the overall price in that segment. “We are not immune to the price of coffee, far from it,” Rennie said. “But we have priced and we will price.” Nestle has had two rounds of price increases since 2022, he said, adding that the company has the advantage of a product portfolio that includes instant coffee and is less dependent on roast and ground coffee than some of its competitors. The company hopes to attract more consumers by offering a range of pack sizes, such as single serve mixes and refills, at various price points. Nestle's new extraction technology also allows it to get more coffee out of each bean without impacting quality, acco
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