Monday, September 12, 2011

Rising Peanut Butter Prices- Good Reason to STOCK UP!

A couple of weeks ago I wrote a post, "Free Peanut Butter for All" in which I shared my great deal on peanut butter. I got 11 jars of Skippy for free, only paying a penny tax on each jar. It was on sale at Harris Teeter and after my coupon doubled, it ended up being free.

Last week I stocked up on Planters brand peanut butter, getting it free at Lowes Foods after my coupon doubled. All in all, I have about 16 jars of peanut butter now. It's a good thing, too, because they don't expire for over a year and now, it's expected that peanut butter prices will rise dramatically in the coming months.

In the article from three days ago, Peanut Prices Rising to New Heights, from Cleveland news, hot and dry weather has devastated this year's peanut crop. The U.S. Department of Agriculture says that this year's crop will be 13 percent smaller than last year's. The result is that consumers will see higher prices on peanuts and peanut butter, at least through winter. 

Vincent Byrd, president and CEO of the J.M Smucker Company, makers of the number one selling brand of peanut butter, JIF, says that he expects prices to rise by 30% by November.

Hopes are that next year's crop will be better and hopefully, alleviate the rise in prices.

Sometimes stockpiling can get a bad rap, but this is just another example of why it's so important to stock up when the price is low. Especially considering all the volatility in the economy right now, it certainly pays to take a good deal when you can get it, because the deal may not be available later!

As an F.Y.I., Planters is still on sale for $1.50 at Lowes Foods through Tuesday night, so if you have the $.75 off coupon, it will be free. Get it now while the price is still good!

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