Americans are shelling out more and more for one of their favourite products.
Major peanut butter brands such as Smucker’s, Peter Pan and Jif are being forced to continually raise the price of their products (with some increases set to reach 30 percent later this year), thanks to dismal weather conditions that have resulted in the worst peanut harvest in three decades.
USDA figures clearly illustrate why these companies have taken such measures – a tonne of unprocessed peanuts once cost US$450, but since the shortage that figure has risen to US$1,150.
Interestingly, peanut butter isn’t the only commodity in the world to suffer recently because of climate change – French wine and Italian pasta have also been affected.
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