Folgers Cuts Prices Again

Procter & Gamble Co. has announced its second price cut this summer on its Folgers-brand coffee.

A spokeswoman said the company will cut the price of its regular 13-ounce can by 28 cents, effective Monday. The cut, which follows a 20 cents cut on Aug. 8, brings the price to $2.96.

“It results from the recent decreases in green coffee prices on the commodity markets,” the spokeswoman said. Friday, New York futures closed at $1.83 a pound.

Folgers increased its prices several times earlier this summer, following severe freezes in Brazil’s coffee-growing regions. However, futures prices have pulled back from a high of $2.74 as the markets await concrete evaluations of damage when trees begin to flower next month.