Amid bumper crop, families could get PB&J break

Source: AP-Excite

By GREG SCHREIER

ATLANTA (AP) - Choosy moms and dads may be packing more PB&J in lunches this winter, when the cost of a jar of Jif or Skippy is expected to fall even as other grocery prices rise.

Peanut butter prices soared last year after a drought and high heat in the Southeast, where most peanuts are grown. This year, that region got a break while farmers in most of the rest of the United States suffered huge losses in the widest drought in decades.

Farmers are now expected to bring in two-thirds more peanuts than they did in 2011. That could mean a price drop at the grocery store.

"After last year's small crop, we saw peanut butter prices on average rise 30 percent or more," said Patrick Archer, president of the American Peanut Council. "With this year's excellent crop, the supply and demand should come back into balance and peanut butter prices should come back to a more normal level at the retail level."

FULL story at link.


Read more: http://apnews.excite.com/article/20121026/DA25A8J02.html

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Peanut grower Armond Morris examines peanuts ready for harvest at his Irwinville, Ga., farm on Thursday, Oct. 25, 2012. Morris, like most Georgia farmers, is expecting a banner year for peanuts. (AP Photo/Todd Stone)