If you think your morning latte is expensive now, brace yourself. Coffee prices are poised to rise from their current record highs as climate change drives up costs for roasters. Brazil and Vietnam, the world's top coffee producers, are struggling with extreme weather affecting crops. Vietnam is expecting a 20% drop in production due to extreme heat, while Brazil's arabica crops are suffering from triple the average rainfall. Robusta futures, a global benchmark for coffee prices, skyrocketed to a record $6,604 per tonne this week, surging 70% in just a year. Giuseppe Lavazza, chair of Lavazza Group, expects coffee prices in the U.K., which are already up 15%, to climb another 10% next year. Canadian coffee lovers might feel the pinch too, as we rank sixth in coffee imports globally and 10th in consumption worldwide (the only non-European nation in the top ranks). Prices are already rising — according to Statistics Canada, store-bought coffee prices surged over 20% from mid-2021 to mid-2022, then another 9.2% by August 2023. In cafes, your average latte now costs over $5. You can always switch to being a tea person… but because that probably won’t happen, at least you can still score a drip coffee for under $3.