Economic Impacts in North Carolina of a Peanut Support Price and Quota Reduction

Laura L. Martin and A. Blake Brown

Journal of Agribusiness, 1996, vol. 14, issue 01, 14

Abstract: Excessive government losses and pressure from end users of peanuts have increased the likelihood of a peanut support price and quota reduction in the 1995 farm bill. This study analyzes the economic impacts of reducing the national quota support price on North Carolina farm income and rural communities. Effects of policies that reduce quota support price for Virginia-type peanuts from $675 per ton to levels of $600 and $500 per ton are estimated. Reductions in the quota support price have significant impacts on quota owners and peanut producing regions. A 10 percent reduction in quota and a $500 support price would result in a $43 million income reduction to North Carolina.

Keywords: Agribusiness; Agricultural Finance; Demand and Price Analysis (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jloagb:90380

DOI: 10.22004/ag.econ.90380

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