Time To Stock Up: The Price of Peanut Butter Is
Set To Soar 40% in the Next Two Weeks
by Mac Slavo: Absurdity
of Iranian Assassination Allegations: If This Was a Hollywood Script
it Would Go In the Garbage Immediately
risen over 30% in just the last year, peanut crop damage is forcing
wholesalers and grocery store retail chains to raise the price of
this prepper staple as much as 40% in the next two weeks:
hot, dry summer has devastated this years peanut crop, sending
prices for the legume skyrocketing and forcing peanut-butter brands
including J.M. Smucker Co.s Jif, Unilever NVs Skippy
and ConAgra Foods Inc.s Peter Pan into startling price increases.
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.
Unilever wouldnt comment on its pricing plans, but a spokesman
for Wegmans Food Markets, the closely held supermarket chain in
the Northeast U.S., said wholesale prices for all brands it carries,
including Skippy, are 30% to 35% higher than a year ago.
Inc., which launched Planters peanut butter in June, is raising
prices 40% on Oct. 31, a spokeswoman said.
any crop, the challenges facing peanut farmers begin and end with
the weather. In Georgia, the leading U.S. peanut producing state,
the planting season was the driest in memory for John Harrell,
a sixth-generation peanut farmer in Whigham, Ga. Peanuts, typically
planted between mid-April and the beginning of June, had to wait
until several weeks after that for any rains, he said.
dont remember a year that you didnt catch a shower
or had so little moisture in the ground to get the seed up,
said Mr. Harrell, age 56. It was dry about as deep as you
can dig down.
Street Journal (Cached
prices are rising 25% to 40% by November 1 of this year, it will
only be a matter of time until grocery retailers will be forced
to pass those costs on to consumers.
will affect the 90% of U.S. households that consume peanut butter
Americans eat about 1.5 million pounds of peanut products
annually. The industry, according to the National Peanut Board,
contributes more than $4 billion to the domestic economy each
are expected to trickle down to consumers soon.
While the larger
manufacturers are feeling the crunch, they still have the ability
to buy peanuts in mega-bulk quantities, as opposed to smaller producers
who dont have similar access. This means that smaller brands
may eventually see even larger cost increases, which may significantly
impact the price of dehydrated peanut products often found in the
reserve food closets of preppers.
from SHTF Plan.
Slavo [send him mail] is a
small business owner and independent investor.
© 2011 Mac Slavo
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