Drought Could Send Peanut Butter Prices SoaringMadeline Holler
The easy and cheap peanut butter sandwich is likely to get a little more expensive this fall. The U.S. Department of Agriculture is predicting something of a peanut shortage. We all know when supply falls short of demand, prices go up.
A drought in the southern states is to blame for lower crop yields this year — 13 percent lower, the USDA predicts. Makers of Jif, the brand that accounts for almost half of all peanut butter sales in the country, have already announced a 30 percent increase in the price by the end of this year.
30 percent, yikes. At my neighborhood grocery store, a 28-0z jar of Jif peanut butter costs $5.49. If predictions are right, that same jar will go up about $1.65, making each jar more than $7. That makes the enduring peanut butter and jelly sandwich less attractive than other lunch foods.
Oh yes you will eat those crusts, kids, there’s a schmear of peanut butter on them!
We go through a lot of peanut butter in our house, so this is not great news for us. What about you? Suddenly all those other nut butters are looking like more affordable lunch foods in comparison.