COFFEE DRINKERS UNSHAKEN.Byline: Hillary Chura Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. There's a different kind of jolt coming soon to coffee lovers. That cup of joe soon could cost more. Too much rain in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and a strike in Colombia have sent prices for future delivery of beans bubbling toward two-year highs. The nation's top seller of regular coffee - Folgers - already has said it will raise prices 7 percent next month, and others are expected to follow. Coffeehouses could increase prices 5 cents a cup by the end of summer, and grocery stores could raise prices by the end of the month unless the wholesale prices drop back, said Ted Lingle, executive director of the Specialty Coffee Association of America The Specialty Coffee Association of America (SCAA) is a trade organization for the specialty coffees industry. The SCAA seeks to set standards for growing, roasting, and brewing premium coffees. . Among the 49 percent of Americans who are coffee drinkers, many are not about to give up that daily fix. ``We just can't do without it,'' Yvette Kukuk said as she sipped a cup with a friend at a Seattle Starbucks. ``Yup, totally addicted ad·dict·ed adj. 1. Physiologically or psychologically dependent on a habit-forming substance. 2. Compulsively or habitually involved in a practice or behavior, such as gambling. .'' ``We'll just scrimp scrimp v. scrimped, scrimp·ing, scrimps v.intr. To economize severely. v.tr. 1. To be excessively sparing with or of. 2. To cut or make too small or scanty. for change the days we don't have enough money if the prices go up,'' she said. ``We'll just deal with it.'' In Tulsa, Okla., Colin Tucker, a 29-year-old lawyer, said he would curb his coffee habit only if it began to cost more than lunch. Futures prices Futures price The price at which parties to a futures contract agree to transact upon the settlement date. have increased 65 percent in the last eight weeks to Wednesday's close of $1.72 a pound. Folgers announced Tuesday that would translate to a 15-cent increase to $2.41 for a 13-ounce can. CAPTION(S): Chart Chart: (Color) PRICE HIKE BREWING Associated Press |
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