Prices for a ton of runner peanuts, commonly used to make peanut butter, hit nearly $1,200 this week, according to the U.S. Department of Agriculture. That's up from just $450 per ton a year ago.
Americans spend almost $800 million a year on peanut butter and consume more than six pounds of peanut products each year, according to The National Peanut Board, a farmer-funded research group.
We will consume less peanust butter than ever before.
