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Friday, May 6, 2011

coffee prices may 6 2011, Coffee prices heating up

coffee prices may 6 2011, Coffee prices heating up : Many folks can't start their day without a cup of joe, it's an important part of their morning routine. But to get that morning jolt, people may have to start shelling out more cash because the price of coffee is heating up.

This week raw bean prices averaged nearly $3 per pound, the highest in almost 35 years. It's forcing big names like Starbucks and Dunkin' Donuts to raise prices.

There are several reason to blame on the spike. Experts say a very wet harvest is one of them. The rain is ruining a lot of crops in South America.

Smaller coffee shops around Tucson have noticed the soaring coffee prices.

Cartel Coffee Lab tells us it's been able to hold off from raising prices for now, but an employee we spoke with says it's going to happen sooner or later.

We also spoke with a couple coffee lovers who say they're willing to pay up to $5 for their coffee, as long as it's local.

Russell Long says if he was going to work, he would just buy regular coffee, but he would pay $5 at a coffee shop.

"It's nice to just sit, relax, and have a danish," said Long.

Haley Maddox also understands local price hikes.

"I would probably keep going to support them. But if Starbucks raised their prices, I would be like whatever, you guys have enough money."

The Cartel Coffee Lab employee we spoke with says as long as he's honest with customers about why costs are rising, he thinks they'll keep coming back for more For the latest updates PRESS CTR + D or visit Stock Market news Today

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