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Peanut butter prices about to soar amid poor harvest
LA Times ^ | 10/11/11 | staff

Posted on 10/12/2011 6:35:53 AM PDT by Winstons Julia

High prices are expected to trickle down to consumers soon. J.M. Smucker Co.’s Jif will boost wholesale prices 30% this fall, according to the Wall Street Journal. Unilever’s Skippy brand will see a 35% increase while ConAgra Foods Inc.’s Peter Pan label will jump nearly 25%. But peanuts weren't the only crop facing a difficult harvest — unpredictable weather has recently complicated the growing seasons for pumpkins and coffee beans. Coffee roasters only recently began scaling back price hikes instituted over the past year.

(Excerpt) Read more at latimesblogs.latimes.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: peanuts

1 posted on 10/12/2011 6:35:57 AM PDT by Winstons Julia
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To: Winstons Julia

It’s difficult to avoid noticing that there is never an announcement that a harvest was particularly good, therefore prices are going to fall.


2 posted on 10/12/2011 6:37:12 AM PDT by ottbmare (off-the-track Thoroughbred mare)
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To: ottbmare

Because that’s not news.


3 posted on 10/12/2011 6:40:14 AM PDT by Larry Lucido ("#Occupy America" is a great success! I got mail today addressed to "Occupant"!)
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To: Winstons Julia

Good thing I dislike peanuts and am not that big on peanut butter either. Except Reese’s. Which I haven’t had in about five years.


4 posted on 10/12/2011 6:54:54 AM PDT by Steely Tom (Obama goes on long after the thrill of Obama is gone)
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To: ottbmare

They do seem to always spring, don’t they... although there are claims that coffee prices will come back down.


5 posted on 10/12/2011 6:55:57 AM PDT by Winstons Julia (when liberals rant, it's called free speech; when conservatives vent, it's called hate speech.)
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To: Winstons Julia

Now if the government didn’t have a quota and restrict who could grow peanuts, folks in areas who did have good weather might have had a decent harvest. Any idea why we have a peanut quota? Well to protect prices.

There is at least one individual who lives in NYC who owns peanut quota. ‘Splain that to me.


6 posted on 10/12/2011 7:00:40 AM PDT by finnsheep
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To: Winstons Julia

Good for the Jimmy Carter family and a handful of US peanut growers who are the beneficiaries of a Government imposed near-monopoly.


7 posted on 10/12/2011 7:03:00 AM PDT by Buckeye McFrog
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To: finnsheep

I wonder if this will also impact the plumpynut stuff that we’re sending into famine zones in Africa. Seems like it’s time to increase that quota of peanuts.


8 posted on 10/12/2011 7:07:24 AM PDT by Winstons Julia (when liberals rant, it's called free speech; when conservatives vent, it's called hate speech.)
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To: ottbmare

It happened in the hog industry the first half of last year. So much pork the entire pork industry was only 30 to 60 days from bankruptcy. Pork price in the store were way down to try and get the glut of meat out of the doors.


9 posted on 10/12/2011 7:32:10 AM PDT by Balding_Eagle (Overproduction, one of the top five worries of the American Farmer each and every year..)
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To: Winstons Julia

Yup, have noticed it here at our local Krogers. Planters jumped from 2.19 to 2.99 in just a matter of a couple of weeks.
Coffee.......that’s went higher than a hawks nest.


10 posted on 10/12/2011 7:40:24 AM PDT by simplesimon (Never kick a cow turn on a hot day ~ Hank Williams Jr on the Glenn Beck radio show 10-12-2011)
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To: ottbmare

absolutely


11 posted on 10/12/2011 8:04:50 AM PDT by television is just wrong
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To: Winstons Julia

this too from the LaTrine..

Climate change could shrink chocolate production: report
http://www.freerepublic.com/focus/f-news/2791681/posts


12 posted on 10/12/2011 9:25:31 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: Winstons Julia
I can't eat peanut butter, or any kind of nut. I have a slice of pumpkin pie only on Thanksgiving.

I can understand that mothers with young children might be distressed at this, though.

13 posted on 10/12/2011 9:29:17 AM PDT by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: Steely Tom

Reese’s are delicious. I haven’t had one in at least 15 years.


14 posted on 10/12/2011 9:30:56 AM PDT by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: Winstons Julia; don-o
I've seen 3 articles on this already. Don-o, we need to stock up!


15 posted on 10/15/2011 1:57:32 PM PDT by Mrs. Don-o
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