 NEWS
Farm Service Agency
Public Affairs Staff
1400 Independence Ave SW
Stop 0506, Room 3624-South
Washington, D.C. 20250-0506
Release No. 1747.01
Jillene Johnson (202) 720-9733
jillene_johnson@wdc.usda.gov
USDA ANNOUNCES 2002-CROP PEANUT NATIONAL POUNDAGE QUOTA
WASHINGTON, December 14, 2001 -- The U.S. Department
of Agriculture today announced a national poundage quota for
peanuts for the 2002 marketing year of 1,180,000 short tons,
(2,360,000 billion pounds) unchanged from the 2001 level.
James Little, Administrator of USDA's Farm Service
Agency, said this level has been determined to be the quota
level which will provide peanuts for domestic use in
accordance with the statutory formula for establishing the
quota. The announcement of the final national poundage
quota must be made by December 15, 2001 for the 2002
marketing year, which begins August 1, 2002.
The Agricultural Adjustment Act of 1938, as amended,
provides that the national poundage quota for the 2002 crop
of peanuts shall be a formula quantity equal to the
estimated quantity of peanuts needed for domestic edible and
related uses, excluding seed, in the 2002 marketing year.
The formula quantity, together with an allowance for the
possibility of under deliveries up to 10,500 short tons,
totals 1,180,000 short tons.
The 2002-crop national poundage quota will be
allocated to each state based on the state's share of the
2001-crop national poundage quota.
The national average 2002 quota price support level is
set by statute at $610 per short ton. The price support
level for additional peanuts must be set by February 15,
2002.
The Farm Bill currently being considered by Congress
would dramatically change the peanut program. Poundage
quotas would be eliminated and price support would be
replaced with a target price and deficiency payment plan.
If pending legislation is enacted as law, the 2002 poundage
quota and price support announced by this release may be
altered or rescinded.
For further information contact Kenneth Robison,
telephone (202) 720-9255, E-mail address
kenneth_robison@wdc.usda.gov
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