Coffee prices soaring

NewsChannel 10

Get ready to pay a lot more for your morning cup of joe.

The price of coffee has now soared to more than $3.00 a pound, for the first time in almost 35 years.

Experts say a drop in supply of high-grade coffee beans and a growing taste for more upscale coffee in other countries is to blame for the significant jump.

Prices have more than doubled in just the last seven months, with supplies running low because of heavy rain hurting crops in several countries.

Folgers has already raised its prices three times during the past year and says it may have to do so again.