Right now Georgia peanut farmers are getting their crops out of the ground. Peanut butter producers plan to raise prices next month, but growers won’t walk away with huge profits.
While supplies are short and prices high, input costs for seed, fertilizer, and fuel were also up. And many farmers had to irrigate more because of the drought.
Peanut butter producers plan to raise prices by 30-percent in November. Irwin County peanut farmer Armond Morris says shellers and manufacturers also have few nuts in storage.
“I’m a consumer. We’re all consumers and it’s sad to think that we might not have peanut butter on the shelves getting into the 2012 crop year or till it comes in, or it’s harvested.”
Georgia produces half of the nation's peanuts. But Many farmers chose to plant cotton this year due to high cotton prices, which ultimately fell.