2007 Farm Bill, Bad News For NM Peanut Farmers - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

2007 Farm Bill, Bad News For NM Peanut Farmers

New Mexico's million dollar peanut industry could be in trouble if the 2007 Farm Bill passes in its current form.

Jimmie Shearer, CEO and President of Sunland Inc. in Portales says for the past four years, farmers of peanuts as well as other commodities had certain things paid for under a government package.

The 2007 Farm Bill could take away that package from the peanut industry. That means they would lose about a million dollars for storage and handling costs. Shearer says the extra costs would get passed to either the consumers or the peanut farmers.

He says because going to the consumer is very competitive, chances are farmers would get paid less for their peanuts. Shearer says between this and other financial issues, he is worried some farmers won't be able to stay in the business anymore.

U.S. Senator Pete Domenici is pushing the Senate Agriculture Committee not to cut funding for the peanut industry.

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