Peanut Price Support Program
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{{no footnotes|date=March 2013}} |
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The [[2002 farm bill]] (P.L. 107–171, Sec. 1301–1310) replaced the longtime (65-year) support program for peanuts with a framework identical in structure to the program for the so-called [[covered commodities]] (wheat, corn, grain sorghum, barley, oats, upland cotton, rice, soybeans, and other oilseeds). The three components of the '''Peanut Price Support Program''' are fixed direct payments (at $36/ton), [[counter-cyclical payments]] (based on a target price of $495/ton), and [[marketing assistance loans]] or [[loan deficiency payments]] (LDPs) (based on a loan rate of $355/ton). The [[peanut poundage quota]] and the [[two-tiered pricing]] features of the old program were repealed. Only [[historic peanut producers]] are eligible for the [[Direct and Counter-cyclical Program]] (DCP). All current production is eligible for marketing assistance loans and LDPs. Previous owners of peanut quota were compensated through a buy-out |
The [[2002 farm bill]] (P.L. 107–171, Sec. 1301–1310) replaced the longtime (65-year) support program for peanuts with a framework identical in structure to the program for the so-called [[covered commodities]] (wheat, corn, grain sorghum, barley, oats, upland cotton, rice, soybeans, and other oilseeds). The three components of the '''Peanut Price Support Program''' are fixed direct payments (at $36/ton), [[counter-cyclical payments]] (based on a target price of $495/ton), and [[marketing assistance loans]] or [[loan deficiency payments]] (LDPs) (based on a loan rate of $355/ton). The [[peanut poundage quota]] and the [[two-tiered pricing]] features of the old program were repealed. Only [[historic peanut producers]] are eligible for the [[Direct and Counter-cyclical Program]] (DCP). All current production is eligible for marketing assistance loans and LDPs. Previous owners of peanut quota were compensated through a buy-out |
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