Thanks to a peanut shortage, you're going to pay more for your beloved Skippy in the near future. Time reports that the price of peanuts is on the rise, which means that peanut butter manufacturers are paying more for the key -- and often only -- ingredient in peanut butter. As it usually goes, you can expect that cost to be passed onto you.
Exactly how much more expensive is peanut butter going to be? Well, we're not talking peanuts here. The estimate ranges between a 25 and 40 percent peanut butter price increase. Ouch.
The peanut shortage is traced back to last spring, according to Time, when farmers saw dollar signs in their fields... in the form of cotton. Cotton sold at record-high prices last spring, so many farmers decided to plant cotton instead of peanuts.
Add some bad luck to the mix -- disease and drought in the peanut fields that existed -- and we're short on peanuts. The current economy isn't helping, either, as peanut butter has become more popular in the past few years, thanks to the reasonably priced protein it provides.
What are peanut butter lovers to do? Well, there are a few peanut butter alternatives. While some are generally more expensive than peanut butter, this upcoming price hike might give you a reason to try them out.
Almond butter is a tasty, healthy alternative to peanut butter. It's packed with vitamin E, protein and monounsaturated fats (fabulous for heart health).
Made from sunflower seeds and vegetable oil, one serving of this peanut butter alternative delivers 70 percent of your daily vitamin E requirement. Sunflower seed butter also contains twice the fiber as peanut butter.
Never heard of soynut butter? You're probably not a vegan! Soynut butter is made from roasted soybeans. The texture is similar to that of peanut butter, but soynut butter doesn't contain any cholesterol.
Feeling adventurous? There are many peanut butter alternatives. You can try sesame seed butter (tahini), pumpkin seed butter (good timing!), macadamia nut butter, cashew butter and more.
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