Rising coffee prices could affect your wallet
Updated On: Apr 24 2014 06:48:10 PM CDT
You may get more than just a caffeine jolt from your favorite cup of coffee -- it could also shock your wallet.
Severe drought in Brazil, the world's third largest coffee producer, is causing prices to skyrocket. However, there is some good news. Kangaroo Coffee, a java shop in Colorado Springs, is hopeful customers won't see an increase in the price of coffee right away. The store's owner said they continually monitor the market, and lock in a price for coffee beans buying months in advance.
"The (the company's roaster) can buy it at the best possible pricing we can get and set that up for the long term, six months to a year. Then we don't have to worry about what the pricing does so it just saves us the hassle of having to deal with any of that," said DJ Lyon, Kangaroo Coffee's Owner.
So just how much have coffee prices risen? Experts say costs have nearly doubled since late last year.
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