According to reports, from Tuesday onwards, Starbucks will increase prices on some drinks by between 5 and 20 cents. The company said that this step may lead to increase in the average amount spent by customers by nearly 1%.

The company said on Monday in an emailed statement that the hike in price will be different on the basis of the product and the market. As per reports, tall and venti brewed coffees will be sold at 10 cents more in most markets. And a 20-ounce venti coffee will be sold at $2.45 following the hike in most of the US locations.

According to company spokeswoman Carly Suppa, "Ninety per cent of Canadian Starbucks beverages are not changing, including some of our most popular options and sizes. Coffee commodity costs are only part of our value equation, historically comprising between eight to 10 per cent of our overall store operating and occupancy expenses".

As per reports, Starbucks is not going to increase prices on Frappuccinos, grande brewed coffees or food, which are very important categories for the company. The company said that prices on many of the affected beverages were not increased for nearly two years.

Lisa Passe, a spokeswoman, said in the statement that Starbucks persistently evaluates pricing in order to balance the requirement of doing business profitably and also offer value to their loyal customers.

The cost of drinks has been increased in the face of falling prices for commodity coffee. In the past year, Arabica coffee futures dropped 27% to nearly $1.252 a pound.