Peanut Butter Prices on the Rise

by in News, September 20th, 2011

peanut butter jar
Buyers beware: That peanut butter you’ve been snacking on since childhood is soon to undergo a price hike. Sweltering temperatures and parched soil in Peanut Belt states like Georgia and Texas are to blame for the spoiled peanut crop.

According to the U.S. Department of Agriculture, this year’s peanut crop is predicted to be about 3.61 billion pounds, 13 percent smaller than last year.

Peanut butter powerhouse J.M. Smucker Co., who dominates 45 percent of the peanut butter market, expects to raise prices by 30 percent in November, making that $3.19 jar of Jif $4.15, says a Cleveland article.

Although this year’s peanut crop won’t be harvested for a month or two, farmers who have pulled up their plants came away disappointed after finding very few peanuts.

Also quoted in the article is Patrick Archer, president of the American Peanut Council in Alexandria, Va., who says that although a lot could change between now and harvest, price hikes at the supermarket are inevitable.

Continue reading: Peanut Butter Prices Rising to New Heights

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Comments (8)

  1. luvcookin says:

    Guess that will be one more item I won't be buying.

  2. queend says:

    congratulations to master chef Bobby Flay on the birth of his baby with screen siren January Jones! all the best from all of your fans.You and your wife Stephanie are a shining example that a more european attitude toward marriage DOES work.

  3. jen says:

    MY 5yr old son wants to eat PB&J for breakfast, lunch, and dinner, so i will be buying peanut butter no matter how much.

  4. Sierra says:

    i get free peanut butter or close to free by being a couponer. We dont eat much of it so its usually given away.

  5. Rebecca says:

    I wish I could say no, but I love peanut butter too much.

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  8. Elektricien says:

    actually delighted to determine such info which I was hunting to get a whilst.This certain developed incredibly glad! Anyhow

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