JMP
02-11-2011, 05:39 PM
Not sure how many other PB lovers there are out there but I NEED my fix , this isnt going to be good for pricing on anything to do with Peanuts.
A trip down the condiment aisle at your local supermarket will look different today, now that peanut butter price increases are in effect.
Following what CNN calls "one of the worst peanut harvests in decades," manufacturers and merchants are hiking prices by as much as 40 percent.
Kraft, Peter Pan and Smucker's are already costing customers more, with American peanut production expected to be down 13 percent from last year. Why the poor harvest? It's being attributed to the drought across the Southern U.S. this year and to farmers turning their attention to other high-priced crops.
A trip down the condiment aisle at your local supermarket will look different today, now that peanut butter price increases are in effect.
Following what CNN calls "one of the worst peanut harvests in decades," manufacturers and merchants are hiking prices by as much as 40 percent.
Kraft, Peter Pan and Smucker's are already costing customers more, with American peanut production expected to be down 13 percent from last year. Why the poor harvest? It's being attributed to the drought across the Southern U.S. this year and to farmers turning their attention to other high-priced crops.