Peanut Policy Change and Adjustment Under the 2002 Farm Act

by Erik Dohlman, Linwood Hoffman, Edwin Young, and William D. McBride

This report examines the experience of the peanut sector following the 2002 Farm Act's elimination of the marketing quota system, and identifies factors affecting the transition to a more market-oriented system. Although peanut prices and acreage declined following passage of the 2002 Farm Act, it appears that producers are taking advantage of increased planting flexibility to expand production in higher yielding areas. Moreover, the transition has been cushioned by rising demand, and additional sources of revenue from government payments and other sources of farm and off-farm income.

Keywords: Peanuts, policy, marketing quotas, 2002 Farm Act, trade, farm income, tariff-rate quota

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• Peanut Policy Change and Adjustment Under the 2002 Farm Act

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