Thursday, October 13, 2011

If You Like Peanut Butter, Stock Up Now

Posted By on Thu, Oct 13, 2011 at 5:00 PM

Peanut butter prices are going up already, but it looks like it's going to get far worse, which is unfortunate, since the spread is generally one of the cheaper forms of protein for the less wealthy. The Week Magazine breaks down the numbers behind the shortage:

3.46 billion
Pounds of peanuts that will be harvested this year, down 17 percent from 2010

30
Years since the United States has experienced a peanut harvest this bad. Blame "high heat, strong winds, and bone-dry conditions," say researchers from New Mexico State University.

$450
The cost of a ton of Runner peanuts in 2010

$1,150
The cost of a ton of Runner peanuts in 2011

30
Percentage increase in the price of Jif

35
Percentage increase in the price of Skippy

90
Percentage of U.S. households that consume peanut butter

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