Peanut butter prices skyrocketing

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Gaborn

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NEW YORK (CNNMoney) -- Trick-or-treaters might want to hold on to those Reese's Cups this Halloween as sharp increases in peanut butter prices have begun going into effect following one of the worst peanut harvests in decades.

Kraft (KFT, Fortune 500) will raise prices for its Planters brand peanut butter by 40% starting Monday, while ConAgra (CAG, Fortune 500) has instituted increases of more than 20% for its Peter Pan brand that went into effect this month.

J.M. Smucker (SJM, Fortune 500), which makes Jif, will introduce price hikes of around 30% starting Tuesday.

Consumers, meanwhile, are already seeing these increases reflected at grocery stores.
Maria Brous, a spokeswoman for the Publix chain, said the store had already made slight increases in retail prices and expects them to go higher "as the cost of goods continue to rise".

Dick Roberts, a spokesman for Giant Eagle grocery stores, said that "like all retailers," the store is "being affected by industry factors on peanut butter pricing". Chris Brand, a spokesman for Giant food stores, said the "outlook does not look good until next year's crop is harvested and produced".

Peanuts usually get harvested in the fall, around September and October.

While spokespeople for several grocery chains declined to provide specific pricing figures, the peanut industry is clearly under pressure this year after one of the worst harvests in recent memory.

Prices for a ton of runner peanuts, commonly used to make peanut butter, hit nearly $1,200 this month, according to the U.S. Department of Agriculture. That's up from just $450 per ton a year ago. Overall, the USDA projects that American peanut production will hit 3.6 billion pounds this year, down 13% from last year.

Analysts attribute this drop to the intense heat and drought that hit the southern U.S. this year, as well as to high prices for other crops that led farmers to focus their efforts elsewhere.

Americans spend almost $800 million on peanut butter and consume an average of more than six pounds of peanut products each year, according to The National Peanut Board, a farmer-funded research group.
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Story Here

Fuck this. I saw it coming weeks ago but I love my peanut butter :(
 
Things have gone too far.

I'm occupying whatever the fuck I need to occupy to right this wrong.
 
Crap. Should have loaded up last time I went to Costco.
 
Gaborn said:
Story Here

Fuck this. I saw it coming weeks ago but I love my peanut butter :(
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Why didn't you warn anyone Gaborn!! It's your duty as Bad-News-Guy!

You really let me down man.

Welp, nothing left to do but clean out Giant Eagle.
 
I linked another story in last month's pb thread and stocked up on various jars. I am set for winter. I also have peanuts growing in my garden if this shortage doesn't pass soon.
 
Yeah I posted this in one of the peanut butter threads. I was at the grocery store today and so far prices are the same. I wonder if they would keep the price low if the FDA would allow more insect fragments and rodent hairs per 100 grams?
 
Terrible news, as I love peanut butter.

I've got a few jars here at home and a half-full jar at work, as well as a jar of almond butter.

Almond butter's quite good, but it's still no peanut butter.
 
It's alright guys, you will just have to develop a taste for this superior spread

vegemite175.jpg
 
Thank goodness.

Tobor said:
It's time for Nutella to make it's move. The end game approaches.
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They already did. I see them everywhere! even in my local Asian grocers selling a lot of nutella.
 
I'm just about to pour myself a cup of coffee and toast a slice of bread to put peanut butter on it (Peter Pan honey roast crunch) when I saw this thread. I am terrified...
 
Striek said:
qTifN.jpg


It says Vitamin B and lightly spread vegemite on hot buttered toast is amazing
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This proves for almost any situation on the planet you can link a Simpsons screen cap relevant to the discussion
 
macuser1of5 said:
I tried it once.

That's about all I can say that is nice. I tried it.
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this. I had a friend in elementary school who was from Australia and I had a bite of his sandwich. Never again.

Peanut butter went up 30 cents last week and I didn't know why. Why was the harvest so bad this year? Not enough illegals harvesting or was it weather related?
 
Sutton Dagger said:
It's alright guys, you will just have to develop a taste for this superior spread

vegemite175.jpg
Click to expand...

I bought a jar to try it out after we had some relatives from Australia visiting us this summer. Good fucking God does that shit taste terribad.
 
Lactose_Intolerant said:
this. I had a friend in elementary school who was from Australia and I had a bite of his sandwich. Never again.
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Yeah well thats because only wierdos eat it on non-toasted bread. And its gotta be spread super-thin.
 
Sutton Dagger said:
It's alright guys, you will just have to develop a taste for this superior spread

vegemite175.jpg
Click to expand...

I think I'm going to try this or Marmite if I can find it in a local Canadian supermarket. I tend to like some things my peers don't (like 85% dark chocolate, or Italian bitter herb soft drinks), so maybe I'll take to it.
 
TheExodu5 said:
I think I'm going to try this or Marmite if I can find it in a local Canadian supermarket. I tend to like some things my peers don't (like 85% dark chocolate, or Italian bitter herb soft drinks), so maybe I'll take to it.
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I dig 85% chocolate but I think vegemite is like those evil dutch salted licorice treats. You have to be born into it to like it.


Busaiku said:
Anything with Nutella is amazing.
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This is very true. Spread on strawberry and whipped cream crepes? Check. Pretzel sticks? Check. Granny Smith apples? check. etc.
 
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