
(Reuters) - Starbucks Coffee Co (SBUX.O) said on Friday it would raise the price of its packaged coffee by an average of 12 percent after its Chief Executive Howard Schultz once again blamed speculators for pushing coffee prices higher.
"I think it's artificial. I think financial speculation has really stepped into the market," Schultz said, adding that coffee drinkers would not "respond positively" to higher prices.
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