Your daily cup of coffee may be about to become more expensive.

The price of arabica beans has hit a two-year high on commodity markets in recent days.

Robusta coffee, the cheaper coffee type used in instant drinks, has also soared to a new all-time high.

Prices are up 5.4% this week having been driven higher by less output in Vietnam and low inventories.

The price of coffee in the last year. Source: Markets Insider

Vietnam is the world's largest producer of robusta coffee beans with concerns mounting over next season's output.

Crop concerns in Brazil have also contributed to the high prices.

Italian coffee company Lavazza recently blamed falling profitability on rising coffee prices.

Group CEO Antonio Baravalle said the macroeconomic scenario for the industry last year "was extremely complex".

He said this was due to the "sharp increase in the cost of the raw material, with prices at record levels for green coffee and Robusta in particular".

Coffee beans

Mr Baravalle said they will "continue to monitor the international market" but warned that "extremely high prices persist" for Robusta.

A recent survey found 62% of Irish people drink coffee with most (63%) drinking at least two a day.

Americano is the most popular order in Ireland with most respondents spending €2.99 on an average coffee.

Some 35% of women and 29% of men said coffee is 'extremely important' to start their day.

Main image: A barista prepares a coffee, 8-4-17. Image: Gordon Scammell / Alamy