BUSINESS

Your morning cup of joe could soon cost a lot more

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(WJLA) - Most of us can't do without our cup of coffee - or three or five - in the morning to get our engines started.

Unfortunately, the price of that precious cup of joe could soon go up - a lot.

According to Slate.com, the price of coffee beans is soaring worldwide.

The price of arabica beans in particular - the favorite of retail coffee giants like Starbucks and others - has gone up nearly 90 percent this year, mainly due to a drought in Brazil.

Other reasons include an outbreak of the fungus roya and climate change in general, which have significantly hampered arabica bean production, Slate reports.

Starbucks reps told Slate.com that the company has locked in prices for the remainder of this fiscal year and part of the next, and is looking into other solutions, such as getting beans from the world's number-two producing country, Columbia.

But if those avenues don't pan out, coffee consumers can expect to see a price jump on that morning latte, soon.

Read Slate.com's full article online.

 

 

 

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