Peanut Butter Prices
November 1, 2011 by staff
CNNMoney reports that Kraft is raising prices of its brands Planters peanut butter 40 percent, while ConAgra has already increased the price of its Peter Pan by 20 percent. (Http: / / cnnmon.ie / rvtoiT)
JM Smucker, Jif maker, will raise prices by 30 percent, says CNNMoney.
No word yet on the price of Skippy brand Unilever.
U.S. farmers is expected to produce about 1.8 million tons of peanuts this year, almost 13 percent over last year, the Associated Press reported.
Georgia, the largest peanut producing state in the country, saw record heat and lack of rain that prevented some peanut seed germination, even in the field, the AP reported. Other plants that grew were baked in the hot summer sun, the production of poor quality nuts or nothing at all.
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