
Peanut butter prices rising to new heights
CLEVELAND, Ohio -- First gas, then coffee, and now peanut butter.
Consumers fed up with the higher cost of filling up their cars and buying their morning java might now have to pay more for their PB&J.
Scorching hot, dry weather in the major peanut-growing states like Georgia and Texas has devastated this year's peanut crop.
Some plants shriveled before they could produce peanuts, while other plants got too hot to mature into anything edible. And some of the plants that did mature developed a toxin that makes them more difficult to process.
The U.S. Department of Agriculture is predicting this year's peanut crop could be about 3.61 billion pounds, 13 percent smaller than last year's 4.16 billion pounds.
Bottom line: Consumers will see higher prices on peanuts and peanut butter at least through the winter.
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