Coffee price hike won't hit Starbucks or Tims

Two of Canada's biggest coffee chains say their customers won't pay more for their morning brew despite skyrocketing global bean prices.

Coffee futures are at their highest in nearly 13 years as supplies tighten due to weak harvests in some of the world's most robust coffee-growing regions.

Canadian restaurant chain Tim Hortons said it has no immediate plans to raise the price of a cup of coffee.

Last week, Starbucks Corp. announced it would be able to absorb the costs of higher coffee prices.

But consumers should expect to see a jolt in the cost of brewing a cup at home, with the price of both Folgers and Maxwell House brands of coffee set to rise.

Coffee futures for December delivery hit $1.8865 US a pound on Monday at the Intercontinental Exchange, the highest since September 1997.