I'm a commodities trader by profession and I can verify what Blast has posted. If you eat peanut butter, go ahead and buy a year supply now.

I'll add that I don't think you should buy more than 1 or 2 years supply though. This is only a temporary supply disruption. It takes a different kind of market disruption, like a geopolitical event or a sudden and permanent spike in labor costs to permanently drive up the cost of a commodity. Peanuts did not experience that kind of disruption. Peanuts just had a bad harvest and should get back to normal with the next good harvest.