Peanuts: Background for 1990 Farm Legislation

James D. Schaub and Bruce Wendland

No 278257, Staff Reports from United States Department of Agriculture, Economic Research Service

Abstract: The peanut program has led to surplus production and increasing Government costs throughout most of its history. These problems led to farm legislation in 1977 that initiated a two-price poundage quota peanut program, which was continued under the 1981 and 1985 farm acts. The 1981 Act suspended the peanut acreage allotments and decreased the poundage quota each year to eliminate excess peanuts supported at the higher of the two support prices. The 1985 Act continued many provisions of the 1981 Act but established guidelines for setting the poundage quota to match use. The peanut program will revert to permanent legislation of acreage allotments and parity supports unless a new program is enacted. An important issue for the upcoming farm legislation is whether to continue the current program or to include peanuts under a more general agricultural program.

Keywords: Agricultural and Food Policy; Crop Production/Industries (search for similar items in EconPapers)
Pages: 51
Date: 1989-11
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uerssr:278257

DOI: 10.22004/ag.econ.278257

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