Cost of peanut butter to jump 40%+

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Cost of peanut butter to jump 40%+

Post by TacAir » Thu Oct 20, 2011 12:39 am

Just in case you missed the news...

In case you going shopping in the next couple of days, the folks that make PB have said they will raise the price by ~30 to 40%.

Might be worth stocking up a bit, after all, PB&J is the staff of life and all.

That is all.

Source-
http://www.lfpress.com/money/2011/10/18/18844026.html" onclick="window.open(this.href);return false;

"You may have to dig a little deeper to pay for your next peanut butter and jam sandwich.

The price of peanut butter looks set to spike after a summer drought hit peanut crops in the southern U.S.

Farmers also planted fewer peanuts in favour of more lucrative crops, like corn and cotton, resulting in a more than 10% smaller peanut harvest.

The price of one tonne of runner peanuts, used to make peanut butter, is up more than $400 compared to one year ago.

Conagra Foods, J.M. Smucker -- maker of Jif peanut butter -- and Kraft all have price increases planned south of the border for the coming weeks.

The cost of a jar of Kraft's Planters Peanut Butter there will rise by 40% as of Oct. 31.

"In Canada, Kraft has not announced any pricing changes," said Kraft Canada spokeswoman Kathy Murphy.

Kraft peanut butter sold in Canada is made in Montreal, but most of the peanuts come from the U.S., where yields are low.

"At this stage, we cannot say whether Kraft Canada will make such an announcement in the future," Murphy said.

For peanut butter lovers, it might make sense to pick up an extra jar or two just in case."
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Re: Cost of peanut butter to jump 40%+

Post by marbhán marfóir » Thu Oct 20, 2011 1:41 am

I go to my local food shelf once a month and usually pick up a jar or two if it's available.

I also got laid off for a while not long after moving to MN this time last year and qualified for WIC benefits for a few months until i went back to work and stocked up on a few jars.

we have a LOT of PB backstocked, i'm pretty much the only one that eats it, Mrs. Corpse Killer and Corpse Killer JR. (marbhán marfóir is Irish for Corpse Killer.) dont seem to care for it much. I love it, it's a very good source of protein, and sometimes i'll substitute it in for regular butter in recipes, or put a dollop in the frying pan or the wok, I also like to take a healthy spoonful and throw it in a sauce pan, and fry/scramble an egg in with it, add a bit of soy sauce and hot sauce and then mix in some quickly boiled ramen and top with Thai basil and cilantro. its pretty okay.

really is a shame that the crop got smacked so hard.
hopefully things stabilize next year.
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Re: Cost of peanut butter to jump 40%+

Post by TacAir » Thu Oct 20, 2011 10:31 am

marbhán marfóir wrote:I go to my local food shelf once a month and usually pick up a jar or two if it's available.

I also got laid off for a while not long after moving to MN this time last year and qualified for WIC benefits for a few months until i went back to work and stocked up on a few jars.

we have a LOT of PB backstocked, i'm pretty much the only one that eats it, Mrs. Corpse Killer and Corpse Killer JR. (marbhán marfóir is Irish for Corpse Killer.) dont seem to care for it much. I love it, it's a very good source of protein, and sometimes i'll substitute it in for regular butter in recipes, or put a dollop in the frying pan or the wok, I also like to take a healthy spoonful and throw it in a sauce pan, and fry/scramble an egg in with it, add a bit of soy sauce and hot sauce and then mix in some quickly boiled ramen and top with Thai basil and cilantro. its pretty okay.

really is a shame that the crop got smacked so hard.
hopefully things stabilize next year.
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Price of wheat goes up, price of bread goes up. Price of wheat goes down, price of bread stays up.

Preppers like PB because of the calorie density and protein. Add some Sailor Boy pilot bread and you are GTG.

I wonder how (much less) bad the peanut problem would be if the FedGov didn't have so many control in place - peanuts are as or more protected than sugar.
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Re: Cost of peanut butter to jump 40%+

Post by crypto » Thu Oct 20, 2011 2:17 pm

The problems with peanuts right now as I understand it is that most of the southern farmers who produce the crop saw the drought coming and sowed cotton instead, which does better in dry years. The drought did what it does, and produced a lighter crop on the remaining fields.

That said, I heard the same thing on NPR and bought a case of it during my semi-annual trip to ALDI for non-perishables for $1.60 a jar. Hopefully prices will come back down before I go through 12 jars.
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Re: Cost of peanut butter to jump 40%+

Post by Confucius » Sat Oct 22, 2011 8:27 pm

Bought 24 lbs of skippy a week ago. Good timing...

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Re: Cost of peanut butter to jump 40%+

Post by mobilesuithomer » Sat Nov 05, 2011 10:02 pm

Will the price increase for peanuts be comparable, or will plain peanuts not go up as much?

Because I've made my own peanut butter before, and if it ends up being cheaper than the store bought stuff it'll probably be all I eat if at all possible. (Peanut butter is $1/pound when on sale, same as in-the-shell peanuts).

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Re: Cost of peanut butter to jump 40%+

Post by TacAir » Sat Nov 05, 2011 11:38 pm

mobilesuithomer wrote:Will the price increase for peanuts be comparable, or will plain peanuts not go up as much?

Because I've made my own peanut butter before, and if it ends up being cheaper than the store bought stuff it'll probably be all I eat if at all possible. (Peanut butter is $1/pound when on sale, same as in-the-shell peanuts).

It would seem greed more than anything **IF** you believed the GA peanut commission:

"Recent reports of increasing peanut butter costs and farmers receiving record high peanut prices don’t tell the whole story. Some consumers may have concluded from these reports that farmers are responsible for the higher peanut butter prices peanut butter manufacturers have announced.

Although some farmers have been offered $800 to $1,000 a ton for their peanuts this fall, most farmers contracted their peanuts for $550 to $600 a ton before planting their crop last spring. Farmers forward contract their crops in order to obtain financing to buy supplies needed to plant the crop.

Peanut market experts estimate 75 to 80 percent of Georgia’s farmers contracted their peanuts with buyers at the lower prices, so only 20 to 25 percent of the peanuts that farmers are harvesting this fall are expected to be sold at the higher prices.

References to USDA estimated prices, known in the industry as the USDA National Posted Price, also misled consumers. In mid-October, the USDA National Posted Price, which is issued weekly, listed runner peanuts – the type used to make peanut butter - at $1,200 a ton, (Bold added Ed) but it’s well known in the peanut industry that farmers never receive the USDA estimated price.

A low supply of peanuts left from last year’s crop, poor market prices at planting and drought conditions throughout this year’s growing season have converged at one time to create a perfect storm that is driving up the price of peanuts. The tight peanut supply and the rules of supply and demand, not farmers, are responsible for higher prices consumers may experience.

Some might criticize farmers for not planting enough peanut acres, but farmers told peanut buyers in the spring that prices were not high enough to compete for cotton and corn acres, but buyers assumed there would be enough peanuts. Farmers are business owners and just like other businesses, they have to make planting decisions that will keep their farms economically viable to survive.

Peanuts require crop rotation to maximize production efficiency and to protect natural resources. Cotton and corn are the predominant crops used for this purpose. Farmers already have the specialized equipment to plant, tend and harvest each of these crops, so it requires only a shift in resources when the market dictates.

Although peanut prices are higher than farmers have seen in a long time, it should be noted that farmers are facing record high production costs. According to University of Georgia Cooperative Extension Economist Nathan Smith, this year’s peanut crop will be one of the costliest to produce on record. Rising costs of fuel, fertilizer, seed, and pest and weed control are expected to increase the cost of irrigated peanuts by 30 percent and non-irrigated peanuts by 20 percent above last year.

Even in the face of rising peanut butter prices, peanut butter is still a relatively inexpensive source of high quality protein."


Peanuts are a controlled crop - you must have a Govt license to grow and sell peanuts.

From the NY Times:[/URL
"Buried in the proposed farm bill is an entirely new $3 billion subsidy for peanut farmers, a 10-year entitlement of direct cash payments meant to help American peanut farmers adjust to competition unleashed by the North American Free Trade Agreement.

But that is not all.

The government would pay an additional $1.3 billion to ''buy out'' many of those same farmers and others who hold lucrative licenses, known as quotas, to grow peanuts. Under the current 70-year-old subsidy system, only 1.5 million acres can be used for planting peanuts for domestic consumption, and the quotas to farm those acres have grown increasingly valuable. Under the new plan, the government would buy up those quotas from their owners, who could then continue growing peanuts under the new subsidy system..."

[url=http://www.ers.usda.gov/briefing/farmpo ... sary.htm#p]From the UDSA site:


"Peanuts, additional—Under the peanut program prior to 2002, these were peanuts sold from a farm in any marketing year in excess of the farm's peanut poundage quota. The higher of two price-support loan rate levels applied only to the quantity of peanuts within the annually determined poundage quota. "Additional peanuts" were eligible only for the lower price-support loan rate, the level of which was determined by the Secretary of Agriculture, taking into consideration the demand for peanut oil and meal, expected prices of other vegetable oils and protein meals, and the demand for peanuts in foreign markets.

Peanut poundage quota—The maximum quantity of peanuts eligible for the higher of two price support loan rates under the peanut program ended by the 2002 Farm Act. The 1977 Farm Act initiated the two-tier price support program for peanuts. Each producer received a share of a national poundage quota. Producers could market more than their quota, but only the quota amount was eligible for domestic edible use. Over-quota marketings or "additional peanuts" could be sold only for export or processing (crush). Quota peanuts were eligible for a higher commodity loan rate than additionals. The 1996 Farm Act permitted the sale, lease, and transfer of a quota across county lines within a State up to specified amounts of quota annually."

Bottom line due to Govt imposed quotas, subsidies and restrictions of peanut sales **U R boned**.

This is just some of the billions sent to large corporate 'farmers' each year under the subsidy program. And now you know why it will be very hard to eliminate them.

The US is not alone in this kind of price support//market manipulation. As I noted earlier, try to sell rice to the Japanese...
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Re: Cost of peanut butter to jump 40%+

Post by NoAm » Thu Nov 10, 2011 11:36 am

According to a news report I heard, ALL peanut products will be going up in price.
I also heard that the peanuts that are available, are being reserved for the more expensive items like nut mixes, etc.
Thank goodness I got a BUNCH of PB coupons, so I stocked up about a month ago.
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Re: Cost of peanut butter to jump 40%+

Post by kcor_77 » Thu Nov 10, 2011 9:52 pm

I was at my local one of my wholesale outlets and checked on peanut butter. They had limits on how much you could buy. I have a membership to two different wholesale outlets. Both had the same in my area.

Guess I have to go back and get more or my peanut butter jelly sandwiches for my lunch are going to suck. :cry:
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Re: Cost of peanut butter to jump 40%+

Post by ruralranger » Fri Nov 11, 2011 11:37 am

my better half heard this on a local radio show a couple weeks back,i had stopped @ the store the day before & picked up a couple more jars for stock,after her telling me about this i stopped that night & bought a "few" more...we're gtg on pb for a while... [to be fore warned is to be fore armed] [a nods as good as a wink to a blind horse]

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Re: Cost of peanut butter to jump 40%+

Post by NoAm » Fri Nov 11, 2011 11:51 am

Anyone that has a Harris Teeter near them check your e-vic specials.
Planters 16.3 oz PB for $1.47 Limit 2
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Re: Cost of peanut butter to jump 40%+

Post by TacAir » Fri Nov 11, 2011 1:11 pm

kcor_77 wrote:I was at my local one of my wholesale outlets and checked on peanut butter. They had limits on how much you could buy. I have a membership to two different wholesale outlets. Both had the same in my area.

Guess I have to go back and get more or my peanut butter jelly sandwiches for my lunch are going to suck. :cry:
Don't buy too much ahead - the stuff does have a relatively limited shelf life (darn it)

But ya, BP&J is the staff of life - or something.
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Re: Cost of peanut butter to jump 40%+

Post by ruralranger » Tue Nov 15, 2011 10:13 am

we rotate our stock when friends or family need a little help, also when charity groups do food drives we try to help out in a small way but i occasionally find preps (mainly can food ) that i missed rotating out & are ruined or questionable... hate when that happens too... back on pb,i use to eat a lot of pb & jelly sandwiches maybe now with stocked items i will start enjoying them again... [to be fore warned is to be fore armed] [a nods as good as a wink to a blind horse]

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Re: Cost of peanut butter to jump 40%+

Post by aa1pr » Sat Nov 19, 2011 8:42 pm

Glad to know I am going to benefit by all the jars I have in the fridge, everytime I go shopping I get a couple.

Seems like all we will be able to afford is not much at these rates. Wish I had the land for a garden...

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Re: Cost of peanut butter to jump 40%+

Post by weiss27md » Wed Dec 21, 2011 2:37 pm

I haven't seen the prices go up.

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Re: Cost of peanut butter to jump 40%+

Post by polliedes » Wed Dec 21, 2011 3:31 pm

The local Sam's club PB went up 50 cents for the giant jar of Peter Pan (roughly 6 pounds) from the last time i was there and bought it, from 7.49 to 7.99.
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Re: Cost of peanut butter to jump 40%+

Post by duodecima » Wed Dec 21, 2011 8:32 pm

polliedes wrote:The local Sam's club PB went up 50 cents for the giant jar of Peter Pan (roughly 6 pounds) from the last time i was there and bought it, from 7.49 to 7.99.
I've not seen a huge price jump, but the coop (still) can't get bulk PB at all from distributor, and Aldi's isn't carrying the 2lb jar, just the 1lb.
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Re: Cost of peanut butter to jump 40%+

Post by TacAir » Thu Dec 22, 2011 1:03 am

duodecima wrote:
polliedes wrote:The local Sam's club PB went up 50 cents for the giant jar of Peter Pan (roughly 6 pounds) from the last time i was there and bought it, from 7.49 to 7.99.
I've not seen a huge price jump, but the coop (still) can't get bulk PB at all from distributor, and Aldi's isn't carrying the 2lb jar, just the 1lb.

I can only pass along the what the source says without embellishment. Some of it seemed reasonable, or I would not have posted the piece.

I'm happy that the price hasn't - so far - gone up.

I would much rather be a disappointed pessimist than a horrified optimist...
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Re: Cost of peanut butter to jump 40%+

Post by duodecima » Thu Dec 22, 2011 1:05 am

TacAir wrote:
duodecima wrote:
polliedes wrote:The local Sam's club PB went up 50 cents for the giant jar of Peter Pan (roughly 6 pounds) from the last time i was there and bought it, from 7.49 to 7.99.
I've not seen a huge price jump, but the coop (still) can't get bulk PB at all from distributor, and Aldi's isn't carrying the 2lb jar, just the 1lb.

I can only pass along the what the source says without embellishment. Some of it seemed reasonable, or I would not have posted the piece.

I'm happy that the price hasn't - so far - gone up.

I would much rather be a disappointed pessimist than a horrified optimist...
Complete agreement, sir. I'm actually surprised the price hasn't gone up, since there's clearly a supply issue. I was just reporting data from my AO.
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Re: Cost of peanut butter to jump 40%+

Post by chills1994 » Thu Dec 22, 2011 1:42 am

NoAm wrote:Anyone that has a Harris Teeter near them check your e-vic specials.
Planters 16.3 oz PB for $1.47 Limit 2
Thomas Sowell once wrote:
The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it....
It is a long....loooonnnggg running grocery store marketing scam. "Limit 2? Limit 2! :shock: I must buy more of it...It is either scarce...in high demand....or at a really good price."

Even cotton did lousy this year in the drought states, supposedly.

You can go here to see what farmers in your area got for subsidies:

http://farm.ewg.org/" onclick="window.open(this.href);return false;
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