Monday, October 17, 2011

Peanut Butter price excepted to rise 30%-40%

(To The Tune Of: Clementine)
Found a peanut, found a peanut,
Found a peanut just now,
Just now I found a peanut,
Found a peanut just now.
The Wall Street Journal reports that prices for Jif, Peter Pan, and other peanut butter jars will be going up as much as 40% starting in a couple of weeks. The problem is poor peanut crop with all the rain and flooding we've seen this year. The wholesale price of peanuts has already jumped from $450 a ton to $1,150 a ton.

Stock up now before the price hike. Peanut butter is a great item for home storage as it has a long shelf life, is ready to eat, and nutritious.

When buying your peanut butter, or any other item, don't purchase it at a drug store. An article at DailyFinance.com reports a Consumer World study that found that average drug store prices were 36% higher than average grocery store prices. For example, Ben & Jerry ice cream at CVS, $6.29. Same container at Stop & Show, $3.99.  Rite Aid had the distinction of having the most expensive basket of items at $107.46, while CVS was the least expensive at $98.12.

Bottom Line

Drug stores can beat grocery store prices on the loss leader items. These are advertised goods on sale at an extremely good price to lure you into the store with the hope that you'll buy other over priced items while there. Your best bet is too buy just the bargains you want and get out with wallet intact. However I've noticed many stores are fighting back against people buying only the loss leader items by changing saying: Sale price X with additional $20 purchase. So the sale is void if you don't buy other stuff.

If you need $20 of groceries, great. But don't buy $20 of stuff you don'd need just to save $5 on one item.

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