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        Discussion Gas prices, no, peanut butter prices rise 40%

#1 Treetop Nov 20, 2011 11:25 PM

Gas prices, no, peanut butter prices rise 40%
 
My Smucker's natural creamy is now $3.39 at Target and $3.69 at Publix. Both stores raised it one dollar. I had seen several price increases at Target on other things, and decided to wait and get it at Publix, only to discover they also went up.

Poor peanut crop and farmer's concentrating on other crops whose prices have risen.

Quote:

Prices for a ton of runner peanuts, commonly used to make peanut butter, hit nearly $1,200 this month, according to the U.S. Department of Agriculture. That's up from just $450 per ton a year ago. Overall, the USDA projects that American peanut production will hit 3.6 billion pounds this year, down 13% from last year.

Analysts attribute this drop to the intense heat and drought that hit the southern U.S. this year, as well as to high prices for other crops that led farmers to focus their efforts elsewhere.
http://money.cnn.com/2011/10/31/mark...ices/index.htm

#2 Arbo Nov 20, 2011 11:29 PM

You mean like government subsidies for crops to make ethanol?

#3 Treetop Nov 20, 2011 11:30 PM

So, peanut harvest down 13%, so if I bought 100 jars at $239, I should still be able to get 87 jars at $239, or $2.75 a jar. Yet the price has gone up from $450 a ton from last year to $1200 a ton on the commodities market. Sounds like oil and gas prices and that market to me.

Not making sense. Once again, speculation driving prices in the commodities markets?

#4 Treetop Nov 20, 2011 11:32 PM

Quote:

Originally Posted by Arbo (Post 19930256)
You mean like government subsidies for crops to make ethanol?

Probably not. Georgia is called the peach state, but doesn't produce as many peaches as one county in SC. We could be called the peanut state as we do grow the most peanuts. Most corn grown here is for the dinner table, or for cattle feed. A lot of the peanuts are for hog feed. If there were a car that ran on pork rinds....

I think New Mexico grows all or most of the Valencia peanuts, or Spanish peanuts, the rest are likely in the south.

#5 Norman Adlam Nov 21, 2011 04:23 AM

I'm refusing to buy my normal cereal.

A 350g box went up from 2.99 to 3.19 - that's after it went up from 2.49 to 2.99 about a month previously! (So around a 30% rise in a about a month or so).

What confuses me is how nobody claims to ever make any money in business (well, until profit reports come in) and yet large price rises go somewhere! :mad:

It ain't going in salaries here (which have been falling), that's for sure! :mad:

#6 Treetop Nov 21, 2011 04:27 AM

They just shrank the cereal boxes over here. No one making any money... $3 for 15 cents worth of grain...

#7 saltyzoo Nov 21, 2011 05:20 AM

This thread seems like a complete lack of understanding of markets how they are effected by subsidies to me.

#8 Highflight Nov 21, 2011 05:29 AM

Quote:

Originally Posted by saltyzoo (Post 19931348)
This thread seems like a complete lack of understanding of markets how they are effected by subsidies to me.

Not just subsidies. This thread lacks an understanding of how markets work. Period.

#9 Treetop Nov 21, 2011 05:37 AM

Quote:

Originally Posted by saltyzoo (Post 19931348)
This thread seems like a complete lack of understanding of markets how they are effected by subsidies to me.

Quote:

Originally Posted by Highflight (Post 19931397)
Not just subsidies. This thread lacks an understanding of how markets work. Period.

By all means, if you can make accusations, you can certainly explain them.

I know many come here to belittle. Without explaining what I don't understand, your declarations are hollow as the old dead tree in the woods where I grew up.

#10 aerogel Nov 21, 2011 05:42 AM

Quote:

Originally Posted by Norman Adlam (Post 19931203)
It ain't going in salaries here (which have been falling), that's for sure! :mad:

Be a real producer start you own biz...so when you wake up in the Morning you can only blame who your looking at in the mirror :)

#11 saltyzoo Nov 21, 2011 06:17 AM

Quote:

Originally Posted by Highflight (Post 19931397)
Not just subsidies. This thread lacks an understanding of how markets work. Period.

I was going to say that's why I said AND, but I see that I somehow dropped the word. ;)

#12 flyinwalenda Nov 21, 2011 06:47 AM

It's all Jimmy Carter's fault.

#13 rcjetpilot Nov 21, 2011 06:54 AM

Bush's Fault

#14 SKYPILEIT Nov 21, 2011 06:57 AM

not only peanut butter.I've been seeing prices increases in most food products...some of it is outrageous.The cream cheese products for breakfast have risen about 30% since springtime.

...what...almost $4 for a box of cereal.?I know it's all linked to gas prices,but..I don't think we've seen the last of it. :(

We had some discussion on this matter last April.

http://www.rcgroups.com/forums/showt...ht=food+prices

#15 Big Foot 48 Nov 21, 2011 07:03 AM

Food prices seem to rising for stuff we buy, although Costco is holding their big pumpkin pie price firm at $5.99, where it's been for many years. The only time we buy peanut butter is when we need bait for the varmint live trap (ground squirrels, pack rats, etc.).
Quote:

The food at home index has risen 6.2 percent over the past 12 months with all six major groups up between 4.9 percent (nonalcoholic beverages) and 9.0 percent (dairy and related products).
http://www.bloomberg.com/news/2011-1...rt-text-.html#


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