Peanut butter prices soar in peanut shortage

Thursday, November 3, 2011 - 8:00am

It may cost you a little more to make your kids' favorite sandwich for lunch...or a lot more, depending on your favorite brand. Evelyn Lewis runs a daycare with 15 kids and says she goes through a couple of jars every week. She's noticed the higher prices, but says it won't stop her from buying peanut butter.

2011 was a bad year for peanut farmers, bringing in the worst harvest in decades. That means the prices for peanuts are way up...and those have been passed along to peanut butter manufacturers. Smucker's Jif brand is up 30%, while ConAgra's Peter Pan is up by a quarter. Kraft's Planters brand saw the biggest increase, at a whopping 40%.

Nick Hamed, manager of Cotten's on Lakeshore in Shreveport, says he warned some customers price increases were comming. "I told them it might go up another 20 or 30 cents, so they bought like 3 or 4 bottles," he said. However, he says peanut butter has long been a staple at the store...and he doesn't think higher prices will change that. "It's pretty much the same. We didn't reallly see a change. You know, they love it, so they're going to buy it."

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