The price of peanut butter is about to go up – a lot. A small, insignificant little announcement appeared in the business section of the Washington Post on October 13th stating that because of a decrease in the amount of peanuts grown this year, prices are going up. Drought conditions and hot weather shrunk this year’s peanut crop by 13% less than last year.
As a result of the peanut shortage producers are set to raise prices. So if you have a peanut butter lover in your house, hurry out and buy a few jars now.
Here are some of the increases that will take effect within the next few weeks:
- Jif Peanut Butter 30%
- Planters Peanut Butter 40%
- Peter Pan Peanut Butter will have an undisclosed increase
- No word yet from Skippy