Rep. Frank Lucas, Chairman of the House Agriculture Committee, today issued a statement in response to the Commodity Futures Trading Commission's (CFTC) surprise "advisory notice" to further regulate cross-border swaps.
Agriculture Subcommittee Holds Hearing on Peanut Program: Subcommittee Chairman Jenkins Says ‘America’s Peanut Produces Took a Necessary Step in Helping Congress Change Their Program…’
AGRICULTURE SUBCOMMITTEE HOLDS HEARING ON THE PEANUT PROGRAM
Subcommittee Chairman Jenkins Says ‘America’s Peanut Produces Took a Necessary Step in Helping Congress Change Their Program…’
WASHINGTON, D.C. - Congressman Bill Jenkins, Chairman of the House Agriculture Subcommittee on Specialty Crops and Foreign Agriculture Programs, convened a hearing today to review the peanut program..
Congress made historic changes to the peanut program in the Farm Security Act of 2002. A 1930’s depression era program was replaced with a peanut program for the 21st century. A supply management program using quotas was replaced with a program that gives a safety net to producers while also giving them the freedom to make production choices that best suit them for each particular year.
Jenkins opened the hearing by saying, “Peanut producers took a brave but necessary step in helping Congress change their program. I think Congress can be satisfied that we accomplished the goal of allowing the domestic peanut industry to stay vital far into the 21st century.”
“But, this does not mean the program is perfect. I understand that there are producers who feel the program does not give them an adequate safety net, and producers who feel the grading system is outdated and needs to be modified, and there are also questions about crop insurance for peanuts. This hearing gives us an opportunity to hear from those most affected by these changes.”
The hearing featured three panels including:
Mr. Floyd D. Gaibler, Deputy Under Secretary for Farm and Foreign Agricultural Services, Washington, D.C.
Mr. Billy Bain, President, Virginia Peanut Growers Association, Franklin, Virginia
Mr. Jimmy Cheney, Chairman, Georgia Peanut Commission, Edison, Georgia, on behalf of the Southern Peanut Farmers Federation
Mr. Ted Higginbottom, President, Western Peanut Growers Association, Seminole, Texas
Mr. Robert R. Sutter, CEO, North Carolina Growers Association, Nashville, North Carolina
Mr. Evans J. Plowden, Jr., General Counsel, American Peanut Shellers Association, Inc., Albany, Georgia
Mr. Ben Smith, Manager of Peanut/Candy Operations, Tom's Foods, Columbus, Georgia, on behalf of the American Peanut Product Manufacturers, Inc.