MINNEAPOLIS (WCCO) — Your morning cup of coffee could soon get more expensive.
Wholesale coffee prices have shot up to a two-year high. A drought in Brazil is partly to blame, as a third of the world’s coffee is grown there.READ MORE: Friends Remember Mack Motzko and Sam Schuneman, Killed In Orono Crash
That’s expected to result in a shortage of 11 million bags of coffee beans this season. Analysts say prices are expected to start going up in grocery stores next month.READ MORE: Minnesota Weather: Tornado Warnings Expire, But Severe Storms Still A Threat
“I think we’re likely to see coffee prices move upward anywhere to 20, 25 percent in mainstream grocery channels,” said Ross Colbert, a Rabobank Group global strategist.
Experts say the big coffee chains buy their beans way in advance, so prices at Starbucks and other major retailers are not expected to go up this year.MORE NEWS: Deputy Opens Fire During Struggle With Suspect Near Litchfield, Sheriff Says
But smaller coffee shops could be forced to raise prices.