Coffee prices on the rise

Last Update: 9/10 11:41 pm

(WSYR-TV NewsChannel 9)   DeWitt (WSYR-TV) - Coffee drinkers may have noticed it's costing a bit more for a bag of beans. Prices are up about 10 percent since June for nearly all brands, including some of the most popular. The cost of a two-pound bag of coffee beans has increased about $1. The current price per pound of coffee is the highest it's been in 13-years, according to the most recent coffee futures. Pamela LaBarge noticed the increase in prices as she walked the aisles Friday. "It was $2.49 and now it's $3.39," she said. Even some of the less-popular brands have increased in price compared to the big names. Joseph Bolognone, the owner of Koffee King, says the increase is being driven by a number of market factors. "The fear and instability over the market, a lower inventory and the concern of the frost season in July that's coming up," he said. The South American growing season has affected the product, says Bolognone. Coupled with the other factors, it has pushed up the price of coffee futures about 44-percent since June. That price is slowly making its way to customers and distributors, who are trying to bear the cost without passing it on to others. "Technically, I should charge another 12 to 15 dollars more for this box of coffee," said Bolognone. "I can't see people doing that when people are looking to cut their costs so the result is I have to cut my margin and make it up elsewhere." As for customers, like LaBarge, she needs to make choices to stay within her budget. "What am I going to do," said LaBarge. "I guess I'll have less money for groceries, but I have to have my coffee that's what get's me going in the morning." If you're a coffee drinker that likes single serving containers, the price increase is even a little steeper. Boxes of the smaller packets will see about a 10 to 15 percent increase sometime next month. It is unlikely the prices will go down anytime soon. Market analysts are already predicting prices will stay the same next year.