Coffee, milk prices likely to rise; Arabica beans up, overseas dairy demand fueling increases
February 19, 2014 (WLS) -- Your morning cup of Joe could soon get pricier.
Coffee prices have just hit their highest gain in nearly a decade in the futures market.
Prices of Arabica coffee beans for March are up just over 9 percent to a 13-month high.
Analysts say that will likely drive up prices for consumers at coffee shops and in grocery stores.
And if you take milk in your coffee you're in for an even higher expense.
Dairy analysts predict that store milk prices could go up by 50 to 60 cents a gallon in March.
Higher feed costs, a greater demand for cheese and a higher demand for dairy overseas are all fueling the increase.
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