If peanut butter is a something you use a lot of, you might want to consider buying a bunch now and lock in the savings while prices are still low.
Wholesale peanut prices have more than doubled in the last year, and according to the Wall Street Journal, the major peanut butter manufacturers have announced their intent to raise prices from 24% – 40 % (Peter Pan is only going up 24%, Jif – 30%, Planters – 40%). These prices will go into effect by November. I haven’t seen any prediction regarding the prices of nut butters , but it’s very likely that since people already expect to pay more for those items (eg cashew, almond, sun butter), that manufacturers may decide to hike their prices and keep the gap between peanut butter and specialty butters in place.
Peanut butter can be stored for a long time without losing freshness, and by buying at today’s cheaper prices, it’s as if you’ve made 24% profit on your food dollars. With the pathetic savings rates right now (my bank is giving us a whopping .25 %), this is significant!
I’ve said it before, but it bears repeating – by stocking up when prices are low, you’re making your money work for you. Using the information you see in the news can help you make informed purchases that will benefit your pantry. 🙂
Avivah
Does this apply to peanut butter in Israel as well? Because its already so much more expensive than in the US.
I haven’t been here long enough to have a handle on the economy here, but here’s my guess: the brands I mentioned that are sold in Israel will go up (assuming the original manufacturing point is the same as it would be for those in the US – would have to check the containers next time I’m in the store to check on this). If the Israeli brands are made in Israel and the crops haven’t been affected as all the other peanut crops have been, there’s no reason for an increase. Personally, I’ll be mentally prepared for it to go up, and then if it doesn’t, I’ll be pleasantly surprised!
I pay 22 shekel for a kilogram sized container of all natural B and D peanut butter… I pay through the nose, so stocking up on something that expensive is hard to stomach, just in case… But for a point, I did see the 500 gram containers being sold for 22 shekel, so I guess it is always possible…
I know what you mean about the cost, I pay about 24 shekels for that same brand/size. If I was in the US, I’d definitely be stocking up, but here I’ll use less of it as it becomes more expensive. I’ve already been shifting away from peanut butter to the local tahini as a healthier and more cost effective option.