With market prices for coffee jumping, could that cup of java be a jolt to your wallet? [Video]

The price of coffee has been skyrocketing on international commodities markets, and while consumers in Canada haven’t felt the grind yet, the pressure of climate change on the world’s coffee farms is setting the industry on edge, insiders and scientists said. 

The current market price for Arabica beans, which make up around 70 per cent of the coffee market, is roughly $2.70 US per pound. This time last year, it was around $1.49 US.  

Meanwhile, the market price of cheaper Robusta beans, favoured in Europe and by instant coffee makers, has more than doubled in the past 12 months. 

The price jumps come amid serious droughts in Brazil and Vietnam, two of the world’s largest coffee producers. And with climate change driving up …