§7953 Availability of Direct Payments for Peanuts

Summary

The Secretary must make direct payments for peanuts for 2002 and for each year 2003 through 2007. The payment rate is $36 per ton. For 2002 the payment goes to historic peanut producers and is calculated as $36 times the producer’s payment acres times the producer’s average peanut yield (as determined under section 7952(a)(1)). For 2003–2007 the payment goes to the producers on a farm that has peanut payment yield and base acres assigned and is calculated as $36 times the farm’s payment acres times the farm’s payment yield. Payments for 2002 must be made as soon as practical after May 13, 2002. Payments for 2003–2007 must be made no later than September 30 of the harvest year. Producers may take an advance payment up to 50% for 2003–2005, up to 40% for 2006, and up to 22% for 2007. The producer picks the month for the advance between December 1 before the crop year and the normal payment month and can later change that month by notifying the Secretary. If a producer stops working on the farm or their share of production risk changes before the rest is paid, the producer must repay the appropriate part of any advance as determined by the Secretary.