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Peanuts: Background for 1995 Farm Legislation

Author

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  • Sanford, Scott
  • Evans, Sam

Abstract

Throughout much of its history, the peanut program led to surplus production and substantial government costs. To remedy these problems, farm legislation in 1977 initiated a two-price poundage quota peanut program. As efforts to reduce costs continued, the 1981 Act provided for a decrease in the poundage quota each year to eliminate an excess of peanuts being supported at the higher of the two support prices. The 1985 Act extended these provisions and established guidelines for matching the poundage quota with use. The 1990 Act extended most of the 1985 provisions through the 1995 crop as costs seemed to be contained. Now the peanut program finds itself in much the same predicament that plagued its past—surplus production and high costs. Some argue that the current program is flawed and must be changed, while others suggest the program has outlived its purpose and should be eliminated. Few observers disagree that new trade agreements and recent changes in peanut consumption patterns necessitate a fresh look at the peanut program.

Suggested Citation

  • Sanford, Scott & Evans, Sam, 1995. "Peanuts: Background for 1995 Farm Legislation," Agricultural Economic Reports 308422, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerser:308422
    DOI: 10.22004/ag.econ.308422
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    Citations

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    Cited by:

    1. Chen, Changping & Fletcher, Stanley M., 1997. "Economic Implications Of The Fair Act On U.S. Peanut Producers," Faculty Series 16698, University of Georgia, Department of Agricultural and Applied Economics.
    2. Duffield, James A. & Shapouri, Hosein & Graboski, Michael S. & McCormick, Robert & Wilson, Richard, 1998. "U.S. Biodiesel Development: New Markets for Conventional and Genetically Modified Agricultural Products," Agricultural Economic Reports 34029, United States Department of Agriculture, Economic Research Service.
    3. Mutangadura, Gladys & Pease, James W. & Bosch, Darrell J. & Peterson, Everett B., 1995. "Forces Of Change Affecting Virginia Peanut Producers," Policy Papers 14823, Virginia Tech, Rural Economic Analysis Program (REAP).

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