The funds will help the 60,000 farmers spray pesticides in an attempt to halt the spread of coffee rust which kills plants. The rust has affected coffee plantations throughout Central America.

In his statement President Molina said they are concerned production could drop by 40 percent and that they have already lost 100,000 jobs with concerns the problem, if not stemmed will affect millions of residents. Coffee growers are attributing climate change and a general increase in temperature the past two years to the increased rust growth.

Honduras and Costa Rica declared national emergencies last month. In Panama the fungus has affected at least 60 percent of the crop this year.

Watch out coffee drinkers. Soon your pot may be empty!

Read more at CBS News.