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Friday, March 21, 2014

Shortage Of Coffee Beans Is Causing Prices To Skyrocket

Coffee prices have doubled since January due in part to a drought in Brazil, the world's largest coffee producer. (Stirling Noyes/Flickr)

Coffee prices have doubled since January due in part to a drought in Brazil, the world’s largest coffee producer. (Stirling Noyes/Flickr)

First, it was bacon — the savory breakfast treat is much more expensive due to a virus found in pigs. Now, it’s your daily cup of Joe.

Coffee, which more than 80 percent of Americans consume, has more than doubled in price since January.

The rise is partly due to a major shortage of coffee in Brazil — the world’s largest producer of coffee beans — because of a severe drought there.

But where you buy your daily cup will determine whether you have noticed whether you are paying a lot more for it or not.

Alan Bjerga of Bloomberg News joins Here & Now’s Sacha Pfeiffer to discuss the changes consumers can expect in coffee prices.

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