Stock up on peanut products, prices on their way up

[Texashiker]

Remember hearing something about a drought across parts of the US this year? If you buy anything with peanuts, you're about to see the effects of a low harvest.

http://latimesblogs.latimes.com/mon...s-spike-amid-difficult-us-peanut-harvest.html

raw peanuts that cost about $450 a ton in 2010 now cost $1,150 a ton, according to USDA figures.

Here is a chart from the USDA showing a steady increase in price over the past year

http://www.usda.gov/nass/PUBS/TODAYRPT/pnpr4111.pdf

Rumors are going around that peanut prices are supposed to go up somewhere in the 50% range by the end of October.

 

[PokerGuy]

Nooooooooo, I'd better get a stash of Jiff going

 

[xBiffx]

Nuts!

 

[her209]

Obamacare!

 

[xBiffx]

Obamacare!

Nope, just Chuck Testa!

 

[monovillage]

Don't expect a quick end to the drought, another La Nina year is upcoming.
http://blog.chron.com/climateabyss/2011/10/2020/

 

[Texashiker]

Don't expect a quick end to the drought, another La Nina year is upcoming.

There is speculation this Texas drought could last another decade.

I hope the predictions are wrong.

http://www.newschannel10.com/story/15636194/state-climatologist-drought-may-last-another-decade

 

[PingSpike]

That sucks, I really like peanut and peanut butter. I can't say I really eat enough of it to see a huge bill at the end of the month though. It's not like I own a squirrel farm.

 

[manimal]

jimmy carters master plan to rule the world one nut at a time comes to fruition

 

[Macamus Prime]

If you rearrange the letters in "peanut" you get "teapun" - which is a shortened for Tea Punishment,... the English are going to punish us for the Boston Tea Party!!

Quickly, invade the UK!!!!

 

[woolfe9999]

My favorite candy is the Payday bar. Too many calories though, so it's probably a good thing if the prices go up.

 

[Spikesoldier]

sounds like the airlines are going to take away the package of peanuts now and you'll have to settle for a lousy little bag of pretzels.

 

[Infohawk]

Wouldn't it be poetic justice if Texas was the first to really suffer from global climate change? Maybe it will change some minds if things keep going the way they're going.

 

[Specop 007]

Everything is on the way up. Beef is probably going to take a big hike too.

 

[Specop 007]

Wouldn't it be poetic justice if Texas was the first to really suffer from global climate change? Maybe it will change some minds if things keep going the way they're going.

Texas caused global warming? Yeah, makes sense to me.

 

[Doppel]

Thanks, Obama.

$18/jar peanuts here we come!

 

[monovillage]

It's not really fair to blame Pres. Obama for the peanuts. It's really the fault of poor water policy for the last 40 years and the La Nina conditions which usually cause severe droughts in the south/southeast.

 

[Doppel]

It's not really fair to blame Pres. Obama for the peanuts. It's really the fault of poor water policy for the last 40 years and the La Nina conditions which usually cause severe droughts in the south/southeast.

 

[Infohawk]

Texas caused global warming? Yeah, makes sense to me.

I didn't say that but don't let me stop you from ferociously attacking a straw man.

 

[Newbian]

We know who caused this shortage...

 

[monovillage]

BTW a few Colorado ski resorts have already opened. Wolf Creek in the San Juans has had over 40 inches of snow.
http://www.kansascity.com/2011/10/12/3202277/colorado-ski-resort-opens-early.html

 

[WhipperSnapper]

Higher peanut prices? That sucks. In this economy, PB&J is all that many Americans can afford to eat.

 

[PingSpike]

Higher peanut prices? That sucks. In this economy, PB&J is all that many Americans can afford to eat.

We can also go back to lard soaked bread like during the great depression.

 

[Texashiker]

On the way to work today the news talked about peanut prices.

The guy on the news said farmers planted an estimated 11% less peanuts then last year, and combined with the drought, those two factors were going to drive peanut prices up.

 

[KB]

Actually its amazing to see how many products have peanut oil in them. This will raise the price of many snack, not just peanuts.