Global arabica coffee prices hit record highs above $3.60 per lb on Wednesday as Brazil, by far the world's largest producer, has few beans left to sell and as worries over its upcoming harvest persist.

Coffee prices have soared to a record high after Donald Trump’s threat to slap Colombia with trade tariffs sent jitters coursing through the market.

On Tuesday, Arabica coffee prices hit an eye-watering new high on the Intercontinental Exchange at $3.48 a pound, according to the Wall Street Journal. This means the price is up more than 40% over the last three months and 79% year-over-year — and it's set to trickle down to the consumer level soon.