§7953 Availability of Direct Payments for Peanuts

Summary

The Secretary must make direct payments for peanuts. For 2002 the payments go to historic peanut producers. For 2003 through 2007 the payments go to producers on farms that have peanut payment yields and base acres under section 7952. The payment rate is $36 per ton. A 2002 producer’s payment equals $36 × that producer’s payment acres × their average yield under section 7952(a)(1). For 2003–2007 a farm’s payment equals $36 × the farm’s payment acres × the farm’s payment yield. Payments for 2002 must be made as soon as possible after May 13, 2002. For 2003–2007 they must be made by September 30 of the harvest year. Producers may take an advance: up to 50% (2003–2005), up to 40% (2006), and up to 22% (2007). The advance may be paid in any month from December 1 before the harvest year through the normal payment month, and can be changed with advance notice. If a producer leaves the farm or their share of risk changes before the rest is paid, they must repay the applicable advance amount as set by the Secretary.