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Economic Implications Of The Fair Act On U.S. Peanut Producers

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  • Chen, Changping
  • Fletcher, Stanley M.

Abstract

This study analyzed the potential economic impacts of the FAIR Act under GATT and NAFTA on the U.S. peanut industry. Results indicate that the economic impacts of the new program combined with the trade agreements are profound on the peanut industry in both short and long terms. Changes of the peanut program could decrease peanut producers' farm income substantially, eliminate government financial costs related to excessive quotas, and transfer peanut growers' program benefits back to peanut consumers. Increasing imports of foreign peanuts due to free/reduced trade barrier agreements would transfer peanut producers' program benefits to domestic peanut importers and foreign exporters who sell peanuts to the U.S.

Suggested Citation

  • 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.
    • Handle: RePEc:ags:ugeofs:16698
    DOI: 10.22004/ag.econ.16698
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    References listed on IDEAS

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    1. Borges, Robert B., 1995. "Trade And The Political Economy Of Agricultural Policy: The Case Of The United States Peanut Program," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(2), pages 1-18, December.
    2. Martin, Laura L. & Brown, A. Blake, 1996. "Economic Impacts in North Carolina of a Peanut Support Price and Quota Reduction," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 14(1), pages 1-14.
    3. Song, Inbum & Franzmann, John R. & Mead, John F., 1975. "The Impact of the Direct Peanut Price Support Program on Farm Income and Government Cost," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 7(1), pages 247-252, July.
    4. Sanford, Scott & Evans, Sam, 1995. "Peanuts: Background for 1995 Farm Legislation," Agricultural Economic Reports 308422, United States Department of Agriculture, Economic Research Service.
    5. Song, Inbum & Franzmann, John R. & Mead, John F., 1975. "The Impact Of The Direct Peanut Price Support Program On Farm Income And Government Cost," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 7(1), pages 1-6, July.
    6. Rucker, Randal R & Thurman, Walter N, 1990. "The Economic Effects of Supply Controls: The Simple Analytics of the U.S. Peanut Program," Journal of Law and Economics, University of Chicago Press, vol. 33(2), pages 483-515, October.
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    Cited by:

    1. Mohanty, Samarendu & Beghin, John C. & Kaus, Phillip J., 2001. "Impacts Of Federal Support Programs For Sugar And Peanuts Compared To Corn And Wheat On U.S. And World Markets," 2001 Annual meeting, August 5-8, Chicago, IL 20610, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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