Coffee lovers should expect to be paying more for their favourite brew as the price of the commodity rockets on the global market.
The price for Arabica beans, the most widely used by international producers, hit $US3.44 for 0.45kg on Tuesday, a rise of 80 per cent this year, the BBC reports.
In September, the cost of Robusta beans reached a new high.
Concerns about a failing coffee crop harvest in Brazil and Vietnam mean the price of a cuppa will go up soon. (iStock)
Coffee traders expect the global harvest will be squeezed after bad weather struck the world's two largest producers, Brazil and Vietnam, while demand for the drink remains strong.
Brazil, which largely produces Arabica beans, recorded its worst drought in 70 years during August and September, followed by heavy rains in October, raising concerns the harvest could be poor.
Plantations in Vietnam, the leading producer of Robusta beans, also faced drought and heavy rainfall this year.
One expert said coffee companies were mulling hiking prices in the new year.
Vinh Nguyen, the chief executive of Tuan Loc Commodities, says they are no longer willing to absorb the increased costs.
"Brands like JDE Peet (the owner of the Douwe Egberts brand), Nestlé and all that, have [previously] taken the hit from higher raw material prices to themselves," he said.
"But right now they are almost at a tipping point. A lot of them are mulling a price increase in supermarkets in [the first quarter] of 2025."
Coffee lovers should expect to be paying more for their favourite brew as the price of the commodity rockets on the global market. (Getty Images/iStockphoto)
This year 7-Eleven sold an extra 50,000 cups of coffee per week, with comparable retailers such as Reddy Express, formerly Coles Express, experiencing similar growth.
With a starting price point of $2, a brew from a servo costs less than half the price of one from a local cafe.
That can mean more than $1000 in yearly savings for daily coffee purchasers.