Brazil's major coffee roasters, including JDE Peet's, one of the world's largest coffee companies, are expected to raise prices in the domestic market from early next year due to poor weather conditions that have led to higher prices for coffee beans.

Global coffee prices hit a record high last week and are up about 80 percent this year as bad weather in Brazil and Vietnam, the world's biggest coffee producers, hurt harvest prospects, with international consumers likely to feel the effects by the end of March, Reuters reported.

JDE Peet's will raise prices in Brazil by an average of 30 percent next year, according to two traders at the company, maker of brands such as Jacobs, L'Or, Tassimo and Douwe Egberts.

Brazil is the world's second-largest coffee consumer after the United States. However, traders said coffee multinationals will also look to raise prices in other markets, many of them when long-term contracts with retailers expire later this month or early next year.

Another major Brazilian roaster, 3Corações, is set to raise prices by 11 percent in January after raising them by 10 percent in December, while Melitta, also a major Brazilian company, is raising prices by 25 percent this month after recently raising them by 12 percent.

In a letter to customers, JDE Peet's cited “climate concerns” and said it would raise prices for roasted ground coffee, raw beans, instant coffee, capsules and cappuccinos, according to traders who saw the confidential documents.

Melitta said it continued to face rising coffee costs due to “weather conditions,” while Brazilian-Israeli joint venture 3Corações cited weather, increased demand and economic instability.

Both Brazil and Vietnam have suffered droughts this year, and weather has been unstable in recent years. In the past five weeks alone, the price of raw coffee on international commodity markets has risen by about 30 percent.

“Before the recent changes, some of the big roasters in Europe were already planning to raise prices by 10 percent by the end of December or the beginning of January,” a European coffee trader said. By the end of March, supermarket shoppers may notice price increases, he added. Consumers, especially in developing countries, may eventually respond to higher prices by spending less, he said.

Demand growth for roasters could slow significantly because, unlike buyers, coffee companies can react to high prices by, for example, reducing inventories, experts said. Coffee companies, especially those selling to supermarkets, have struggled to pass on price increases this year as consumers increasingly look for cheaper beverages amid the cost-of-living crisis.