(Dec. 18, 2024 – WASHINGTON, D.C.) The United States Peanut Federation (USPF) supports the recently proposed continuing resolution (CR) to provide funding for Fiscal Year 2025 programs through March 14, 2025. USPF commends the efforts of Congressional agricultural leaders for working tirelessly to ensure meaningful agricultural economic assistance provisions were included in the legislation.
Following many discussions on Capitol Hill, Speaker of the U.S. House Mike Johnson proposed the CR legislation on December 17, 2024, which included a one-year extension of the 2018 Farm Bill and several attached funding provisions, including both agricultural economic and natural disaster assistance.
Over the past few months, USPF has joined other agricultural organizations in advocating for financial relief after the multi-year impact of increases in costs of production paired with low prices in the agriculture industry. Additionally, many peanut growers have been impacted by various natural disasters, only worsening their situation and increasing their need for assistance. Due to these extreme economic conditions, peanut growers are in urgent need of receiving financial assistance before the 2025 crop year.
USPF members were pleased with the CR proposal released, which provides $10 billion in economic assistance and $21 billion in natural disaster assistance to agricultural producers across the country. According to peanut economist Dr. Stanley Fletcher, with the legislation’s payment formula based on at least 8% of the crop’s reference price and the 2024 national peanut payment yield, peanut producers can expect to receive an estimated economic assistance payment of $77.04 per acre no later than 90 days after the bill is enacted.
USPF members are grateful to the legislators who led the effort to secure these initiatives and are hopeful Congress will follow through with these extremely important provisions by swiftly passing the CR as proposed by December 20, 2024.
Jamie Brown, USPF Chairman, said, “We extend our gratitude to our congressional leadership for providing the necessary economic support during such a critical time to our peanut farmers. It is imperative that we continue to support all farmers who provide this country’s secure food source and are thankful for that continued focus.”
Ross Kendrick, Georgia peanut grower and Georgia Peanut Commission board member, said, “Peanut growers have endured significant hardships over the past few years and
financial aid is vital before the new crop year. We sincerely appreciate the work from Congressional leaders in achieving this and hope Congress will quickly pass the Continuing Resolution.”
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The United States Peanut Federation (USPF) is comprised of the Southern Peanut Farmers Federation, the American Peanut Shellers Association, and the National Peanut Buying Points Association. USPF serves as a unified voice in Washington D.C. for all sectors of the peanut industry and advocates actively for strong agricultural policy. For additional information, contact Lorene Parker at (202) 543-7464 or by emailing lparker@reddingfirm.com.