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Trends in U.S. Peanut Acreage, Production and Usage, 1947-65

Author

Listed:
  • Kromer, George W.

Abstract

Excerpts from the report: Peanuts, also known as groundnuts, are a basic cash crop of economic importance to approximately 100,000 farmers in the Virginia-Carolina area, Southeastern area, and Southwestern areas of the United States. In the United States, peanuts are grown almost exclusively for the domestic food market. More than two-thirds of the crop is utilized for edible consumption as nuts, in other major-producing countries--India, Mainland China, Senegal, Niger, Mali, and Nigeria--peanuts are produced primarily for their oil and meal. Consequently, the United States plays a relatively minor role in the international trade of peanuts for crushing into oil and meal. The Commodity Credit Corporation (CCC) price support rate maintains U. S. peanut prices at a level about double the world price of peanuts. For this reason, virtually all U. S. exports are peanuts purchased by private firms from CCC stocks at prices which approximate world market prices for peanuts used for crushing into oil.

Suggested Citation

  • Kromer, George W., 1965. "Trends in U.S. Peanut Acreage, Production and Usage, 1947-65," Miscellaneous Publications 320633, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersmp:320633
    DOI: 10.22004/ag.econ.320633
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