Business & Tech

Peanut Butter Prices Set to Soar

How much are you willing to pay for the comfort food?

Unless you’re unlucky enough to be allergic, it’s still a staple in school lunches. The good ol' PB&J sandwich.

But that could change, at least temporarily. Thanks to a scorching summer, resulting in a dismal peanut crop, peanut butter prices are expected to surge this fall, and experts are advising that peanut lovers from coast to coast—residents included—stock up now.

The Los Angeles Times cites USDA data showing that the price for raw peanuts has more than doubled since 2010, increasing from $450 per ton to $1,150.

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Meanwhile, the Wall Street Journal predicts that the price of Jif, owned by J.M. Smucker Co., will increase by 30 percent this fall, while Skippy, made by Unilever, will see a 35 percent increase. ConAgra brand Peter Pan is expected to cost 25 percent more.

According to CNN, Kraft will increase the price of its Planters brand peanut butter by 40 percent by late fall. This summer’s intense heat, paired with drought in the Southern U.S., are reportedly to blame for the poor peanut harvest.

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This all begs the question — will choosy moms (and shoppers in general) be willing to pay more for the creamy or crunchy concoction? Let us know by taking part in our poll, and tell us in the comments why you voted the way you did.

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