June 9 (Reuters) - J.M. Smucker ( SJM ), the maker of Folgers

coffee, forecast annual profit above Wall Street expectations on

Tuesday as resilient demand and higher prices, particularly for

coffee, helped deliver a fourth-quarter profit beat.

Shares of the company rose 3% in premarket trading.

Smucker has benefited from budget-conscious consumers

choosing to eat out less and prepare more meals and coffee at

home, lifting quarterly sales of its U.S. retail coffee segment

12% from last year, helped by a 21 percentage point increase in

pricing.

The company said that overall quarterly net sales benefited

from a 10 percentage point rise in pricing that offset a 4

percentage point dip in volume.

It expects full-year adjusted earnings to be between $9.75

and $10.25 per share, the midpoint of which is higher than

analysts' average estimate of $9.79 per share, according to data

compiled by LSEG.

The packaged foods maker said it continues to face a

"dynamic and evolving external environment, including

geopolitical, economic and policy changes," as well as evolving

consumer behavior.

Besides weakness in spending, consumers are also gravitating

towards cheaper private labels and healthier food options,

accelerated by the rapid adoption of GLP-1 weight loss drugs.

The trend was evident in Smucker's annual net sales

forecast, which it expects will fall 3% to 4%. Analysts had

expected annual net sales to rise about 1% to $9.10 billion.

Meanwhile, the Jif peanut butter maker's net sales for the

quarter ended April 30 rose about 6% to $2.27 billion from the

year-ago period, marginally above analysts' average estimate of

$2.26 billion.

It earned a quarterly profit of $2.77 per share on an

adjusted basis, above analysts' estimates of a $2.64 per share

profit.

On Monday, packaged food maker Campbell's reaffirmed

its annual forecast, after trimming it earlier this year, and

flagged additional strain on consumers as a war-driven surge in

fuel prices dampens sentiment.