There's no beans about it, coffee prices soaring

NewsChannel 10

Amarillo, Texas - The price of your morning cup of Joe is the highest it's been in decades. A high demand for quality beans and a low supply worldwide, are to blame for the increase. Just this week, the price of a pound of coffee doubled from last year to three bucks a pound.

This jump is being passed along to coffee retailers. Roasters in Amarillo has upped the price of their bulk coffee for the first time in 15 years. Owner Craig Gualtiere says, "Where I buy mine from my broker, my coffee has almost tripled. I placed a big order in January. It lasted me four months. I placed another four month order and it went up 35 percent."

Roasters is absorbing the cost as much as possible, rather than passing it along to customers, for now at least. Coffee prices are expected to continue to rise over the next several years, which could put many independent retailers out of business.