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If PB&J is a staple in your house, you’d better stock up on peanut butter now. This summer’s blisteringly hot weather ruined many peanut crops, which will drive up the prices on peanut butter this fall. The Wall Street Journal reports that wholesale prices for Jif will rise 30 percent starting in November, Peter Pan will become 24 percent more expensive, and Planters, a new peanut butter from Kraft, will go up 40 percent by the end of October.
Of course, the price increase extends to regular peanuts as well. The Journal reports that a pound of shelled peanuts currently costs around $1.20, up from 52 cents a year ago.
Most other nut butters, like almond, cashew and walnut are usually more expensive than peanut butter, but with the new price increases they might seem more affordable – or cheaper – by comparison. Soy nut butter, which is made from roasted soybeans, is often less pricey than peanut butter and offers a similar flavor and texture with less saturated fat.
Or, you could just stock your shelves with the real deal before the prices go up. Depending on the product, many brands have a nine month shelf life if unopened.