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Peanut Policy Change and Adjustment Under the 2002 Farm Act

Author

Listed:
  • Dohlman, Erik
  • Hoffman, Linwood
  • Young, Edwin
  • McBride, William

Abstract

By eliminating the longstanding peanut marketing quota system, the 2002 Farm Act substantially altered the policy environment for the U.S. peanut sector. Under the marketing quota system, supply controls assured peanut quota holders of receiving high support prices, while requiring that nonquota peanuts be exported or sold into the lower value crush market. Pressured, in part, by increased imports, these supply controls were replaced with the same set of supports available to producers of other program crops. For producers, the transition has been marked by lower peanut prices and reduced, but stabilizing, acreage, and adaptation to an environment with limited price information and marketing strategies. At the same time, it appears that peanut producers are taking advantage of increased planting flexibility and expanding production in higher yielding areas. For many producers, the transition has been cushioned by additional revenue from Government payments and other sources of farm and off-farm income.

Suggested Citation

  • Dohlman, Erik & Hoffman, Linwood & Young, Edwin & McBride, William, 2004. "Peanut Policy Change and Adjustment Under the 2002 Farm Act," Miscellaneous Publications 404849, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersmp:404849
    DOI: 10.22004/ag.econ.404849
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    References listed on IDEAS

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    1. Nelson, Frederick J. & Schertz, Lyle P., "undated". "Provisions of the Federal Agriculture Improvement and Reform Act of 1996," Agricultural Information Bulletins 262104, United States Department of Agriculture, Economic Research Service.
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