Record Drought Brings Record Peanut Prices

By Eric Olson

September 28, 2011 Updated Sep 28, 2011 at 5:12 PM EDT

FORT WAYNE, Indiana (Indiana's NewsCenter)--Peanut butter makers have announced that on November 1st the price of peanut butter will jump 30%, and they say Mother Nature is to blame.

Record drought in Texas and the southeast this year killed nearly 20% of the annual peanut crop, making the 2011 peanut crop the worst in the states since 1964. The 30% jump in the price of peanut butter will especially hurt local food banks, which rely on peanut butter as a valuable food staple. Folks at Community Harvest Food Bank say it puts greater pressure on them.

<”And add that to the already rising costs of poultry, beef in dairy and some of the other products,” says food bank director Jane Avery, “which again to us just means we have to work harder to form more collaborations and really do everything we can to stretch, receive and stretch every resource we get.”

Each week Community Harvest feeds 21,000 people in nine northeast Indiana counties.




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