NEW YORK (Reuters) - Starbucks Corp
The price hike will be effective June 25, Starbucks spokeswoman Lisa Passe said.
"Less than a third of beverages will be affected by the price increases," Passe said. "In most stores, the price of a Grande or Venti brewed coffee, as well as Frappuccino and Refreshers, will remain the same."
Nationally, the average beverage purchase price increase will be about 1 percent, she said.
The most a tall brewed coffee will increase by is 10 cents, while some markets will not see any increase in brewed coffee, she said.
Green arabica coffee prices dropped to a four-year low on the ICE Futures U.S. market at $1.1710 per lb on Thursday.
Coffee commodity costs make up less than 10 percent of Starbucks' overall store operating and occupancy expenses, Passe said.
(Reporting by Marcy Nicholson; Editing by Gerald E. McCormick)