Coffee prices on the rise after drought in Brazil

Joe Walsh, president of O' Neill Coffee, shows a handful of "Uganda Gold" coffee beans he just roasted at the plant in in West Middlesex, Pa., on May 2, 2007. FILE (AP Photo/Keith Srakocic)

April 24, 2014 12:39:24 PM PDT
Coffee prices are soaring.

The cost of Arabica beans has doubled since late last year due to a severe drought in Brazil, which produces one third of the world's coffee.

Analysts predict that continued problems with the production of Arabica coffee beans could eventually push up prices more for consumers.