Peanut Butter prices to skyrocket?

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GasBandit

GasBandit

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Source:
http://lifehacker.com/5848634/stock-up-on-peanut-butter-now-before-prices-get-ridiculous

Stock Up on Peanut Butter Now Before Prices Get Ridiculous


The time to buy peanut butter is now, friends. The Wall Street Journal reports that prices for Jif, Peter Pan, and other peanut butter jars will be going up as much as 40% starting in a couple of weeks.
In just one year, the wholesale price of peanuts has skyrocketed from $450 a ton to $1,150 a ton, thanks to Mother Nature and human folly. As a result:

Wholesale prices for big-selling Jif are going up 30% starting in November, while Peter Pan will raise prices as much as 24% in a couple weeks...Skippy [prices] are 30% to 35% higher than a year ago. Kraft Foods Inc., which launched Planters peanut butter in June, is raising prices 40% on Oct. 31​
Invest now in a few jars of your favorite peanut butter brand (and, presumably, peanuts too) before this food staple becomes a luxury item.
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strawman

strawman

Meh. Food items go through seasonal variations. This is just more severe than usual. It's interesting that we haven't seen such wild variations before, though. Unlike, say, oranges, peanuts grow in a relatively small area.

I suspect some people are going to try and cash in by planting more crops than usual, and as a result we may see a rebound of extra cheap next year.
 
Tress

Tress

According to what I just found on Google, a bottle of Skippy costs around $2.35. A 40% increase puts it a little over $3.25 per jar. How is that a luxury item?? I don't really see this as the end-all that some media outlets are making it out to be.
 
GasBandit

GasBandit

Staff member
Tress said:
According to what I just found on Google, a bottle of Skippy costs around $2.35. A 40% increase puts it a little over $3.25 per jar. How is that a luxury item?? I don't really see this as the end-all that some media outlets are making it out to be.
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Depends on what your particular consumption of PB per dium is.
 
Cajungal

Cajungal

Staff member
NOOOOOOOOOO! I live on peanut butter these days. At least I can count on dried beans for a filling meat alternative... but they're not so good on sandwiches.
 
PatrThom

PatrThom

Shegokigo said:
No.... this cannot be.... this must be prevented.... my Reese's must be protected....
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You know there's this British hedge fund guy who bought up 15% of the entire World's chocolate supply last year, right?

Fear for your Nutella, people!

--Patrick
 
LittleSin

LittleSin

I think I read somewhere that tequila will become a valuable commodity in the next few years because the cactus plants used to make it are going extinct/hard to breed.
 
Null

Null

The fact is, I'm not surprised that more prices aren't rising. Between the floods in the midwest in spring, the drought cooking the south and southeast, and hurricanes smashing the seaboard, along with more floods here and there, agriculture took a severe hit this year in the USA.
 
M

makare

The small bar of Jif I buy is already 4 bucks. Peanut butter is close to being a never food.
 
Frank

Frank

So now, a toast with peanut butter on it or a peanut butter sandwich will cost 1.4 cents rather than 1 cent worth of peanut butter.

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO! GOD NO! PLEASE GOD NO! NOOOO! NOOOOOOOOOOOOOOOOOO!!!
 
M

makare

I have passed up buying peanut butter because it was too expensive already.
 
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