The U.S. Department of Agriculture has announced quotas and price supports for peanuts and tobacco for the 2001 production season.
The national poundage quota for the 2001 peanut crop will be 1,180,000 tons, the same as this past season. The 2001 quota will be allocated to each state based on the state's share of the 2000 crop. This is the level expected to be used for domestic edible and related uses, excluding seed.
The formula quantity allows for 17,000 tons of under-deliveries. The 1,180,000 tons will be reduced .25 percent (5.9 million tons) for a reserve to cover inadvertent errors.
Also confirmed in the announcement was the 2001 price support, set by statute at $610 per ton. The price support for additional or export peanuts will be set on Feb. 15.