Peanut Program: Changes are Needed to Make the Program Responsive to Market Forces : Report to the Honorable Charles E. Schumer, House of Representatives

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Page 4 - GAO has raised a concern that most costs of the peanut program are paid for by US consumers. Economic studies and GAO'S analysis estimate that the peanut program adds, on average, anywhere from $314 million to $513 million each year to consumers' costs of buying peanuts. About 76 to 88 percent of the cost is transferred directly to producers as income, and the remaining portion represents a social welfare loss that reflects inefficiencies in the program's use or allocation of resources. USDA spends...
Page 17 - ... defined in operational terms so as to provide a framework for liberalizing trade in agriculture and bringing all measures affecting import access and export competition under strengthened and more operationally effective GATT rules and disciplines. 2. There is a broad measure of consensus...
Page 11 - It first recognised the amount of health care spending in the five common regime regions in 1999 (the last year for which data were available at the time of the...
Page 38 - ... (the latest year for which data were available at the time of our review).
Page 72 - GAO found that 68 percent of all quota owners in 1988, who held 56 percent of the available quota, rented their quota to others.
Page 2 - Generally, only producers holding a portion of the assigned quota may sell their peanuts domestically (as quota peanuts), while producers without quota must export theirs (as additional peanuts). The program protects producers' incomes through a two-tiered system that sets minimum support prices for quota and additional peanuts.
Page 4 - ... quota because the program allows these persons to sell or rent their quota to others. In Georgia alone during 1990, sales of quota were estimated at $2.3 million. As for rentals, in 1988, 68 percent of all quota owners, who held 56 percent of the available quota, rented their quota to others.
Page 3 - Consequently, economic studies show that US consumers are spending hundreds of millions of dollars more each year for peanuts with the program than they would spend without the program. In addition, USDA spends tens of millions of dollars each year to administer the peanut program, make mandatory payments to producers, and cover the high cost of the peanut products that it buys under various food assistance programs. Lastly, the program may affect international trade, primarily by increasing the...
Page 70 - Peanut Program: Changes Are Needed to Make the Program Responsive to Market Forces (GAO/RCED-93-18, Feb.
Page 4 - ... producers. Moreover, because the quota support price is required to increase each year when...

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