After declaring its resolve last month to absorb increases in the cost of green coffee, Starbucks Corp. said it will raise prices on some of its drinks.

The Seattle coffee giant said Wednesday that the price of green Arabica coffee, which is close to a 13-year high, and price volatility for other raw materials it uses, such as dairy products sugar and cocoa, have forced it to respond.

The chain said it will boost prices of larger size and hard-to-make drinks, while maintaining or lowering the price of some of its most popular beverages, including certain espresso beverages; and, in most markets, its $1.50 12-ounce brewed coffee.

Arabica coffee beans, a high-quality variety grown mostly in Colombia and Central America, have faced two seasons of poor harvest, resulting in a smaller supply. The tight market, and speculative investors, have pushed up prices.

"Over the last six months, a highly speculative green coffee market and dramatically increased commodity costs have completely altered the economic and financial picture of many players in the coffee industry," said Starbucks Chief Executive Howard Schultz, in a statement.