Peanut producers will receive an estimated $61 million to partially compensate them for continuing low commodity prices and increasing costs of production for the 2000 crop year
Sign-up for peanut producers is under way at local Department of Agriculture Service Centers or Farm Service Agency county offices, and is set to end on Feb. 1, 2001. Eligible producers include anyone producing quota or additional peanuts during the 2000 crop year. Producers must have completed marketing of the 2000 crop before signing applications for payments.
The rate for calculating payments is $30.50 per ton for quota and $16 per ton for additional peanuts. The amount of payment will be the product of the quantity of quota and/or additional peanuts produced or considered produced for the 2000 crop year times the payment rate for quota or additional peanuts as applicable.
Where there are temporary transfers of peanut quota in the fall, both parties will be compensated at the quota rate for the pounds transferred.
For more information, contact your local USDA Service Centers or FSA county offices.