Tuesday, August 09, 2005

U.S. Appears Headed for a Peanut Surplus

U.S. Appears Headed for a Peanut Surplus
By ELLIOTT MINOR, Associated Press Writer Tue Aug 9, 5:35 AM ET

ALBANY, Ga. - Peanuts in storage plus peanuts in the field. Right now, the United States has too many peanuts and that, experts say, could be bad news for the peanut commodity program unless something is done to whittle down the piles.

"We're afraid if we cost the government a lot of money, we'll get less in the next farm bill," said Tyron Spearman, executive director of the National Peanut Buying Points Association.
Some 215,000 tons of peanuts are still unsold from the 2004 crop and agricultural officials predict growers will produce another 2.3 million tons this year, Spearman said.

Despite recent growth in peanut consumption, Americans use only about 1.6 million tons a year and another 300,000 to 400,000 tons are exported.
That leaves a surplus of about 485,000 tons...

We here at Fiat Lux will continue to bring you these breaking stories as they occur. We are committed to exellence in blog news reporting. We report, you decide!


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1:05 PM  
Blogger 357martini said...

Americans with extra nuts? I like mine battered.

1:24 PM  
Blogger willowtree said...

Extra peanuts? hehe I have peanut stories. Do you take peanut butter- crunchy or smooth? Is that the classification?

I know someone who has lots and lots of peanut recipes! Why doesnt the US hit her up for some ideas?

"Be sure not to burn the nuts. Nobody likes burnt nuts- they just arent tasty."
--Martha Stewart

4:46 PM  
Blogger Frank said...

I will continue to monitor this peanut situation. As far as I know, I am the first to break this story in the blog world.

Surplus peanuts matched up with peanut recipes? Sounds like the plan that would make everyone happy!

I like crunchy, and Martha is right!

7:41 PM  

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