J.M. Smucker Co. said it would reduce prices of its U.S. packaged coffee brands, including Folgers and Dunkin' Donuts, in response to sustained declines in coffee bean prices.

"For the last several quarters, lower green coffee costs were reflected in promotional pricing for the majority of our packaged coffee products, and we do not anticipate those prices changing significantly," said Steve Oakland, who heads up Smucker's U.S. food and beverage business.

The price decreases, at an average of 6 percent per item, exclude the company's K-Cup pods.