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ESTIMATES OF GOVERNMENT INTERVENTION LEVELS IN U.S. PEANUT MARKETS
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Abstract
Unilateral liberalization of U.S. peanut policy was evaluated using a model of U.S. and world peanut supply and demand. Under the proposed policy, world peanut price would rise slightly to .20perpoundattheU.S.farmlevel.U.S.productionwoulddeclineby578millionpoundsperyearandwouldbeoffsetbyimportsof582millionpounds.U.S.netfarmincomewouldfallby405 million per year. Lost income per farm would be 21,000peryearwhiletheaverageoutlayofconsumerswoulddecreaseby.84 per person at farm level price. Government expenditures would be virtually unchanged because of the market orientation of current policy.Agricultural and Food Policy,