Coffee Prices Up
POSTED: Tuesday, September 14, 2010 - 5:03pm
UPDATED: Tuesday, September 14, 2010 - 7:59pm
EL PASO - Your morning cup of joe may soon cost a "latte."
Coffee prices hit a 13-year high as a result of unfavorable weather conditions in Brazil and Columbia. Local coffee shop owner Kinley Pon says you may see production cuts as early as next year. The roaster warned him to expect price hikes in the coming months.
"Labor cost, cost of good sales across the board, gas prices going up...the surge prices...the gas surge prices that most local businesses here in town have been affected with...so that plus the coffee beans. I've got to do some thinking here."
Pon says he may consider a 4 to 5-cent hike in his prices if conditions don't improve. Since Pon opened Kinley's House six years ago... he's experienced a 42-percent jump in costs.