Be prepared to shell out a bit more for peanut butter. Another hot, dry summer in states like Texas and Georgia and competition from more profitable crops like cotton have shrunk the U.S. peanut crop this year.
The tight supply means consumers will soon pay more. How much more? Raw peanuts that typically cost about $450 a ton, now cost more than $1,150.
“It's just something we have to have,” says Kansas Food Bank President Brian Walker.
“It's high protein so it gives them protein.”
The increase could have a major impact on food banks. The Kansas Food Bank buys up to 100,000 jars of peanut butter every year.
“Last year we spent $75,000 on peanut butter. Increase that and of course it will have an impact,” says Walker.
Analysts say the cost of a can of JIF could go up 30 percent this fall. Skippy could raise prices 35 percent. Peter Pan may see a 25 percent jump.
A federal survey released Wednesday shows U.S. farmers are expected to produce roughly 1.8 million tons of peanuts in the U.S. this year. That's down roughly 13 percent from last year.
Peanut butter is one of the most common items at food banks. They are also expected to take a hit. Find out how they're preparing tonight on Eyewitness News.