Sanford Bishop: “I rise to oppose this phaseout amendment and support the reformed Peanut Program contained in the bill, which is known…”

“I rise to oppose this phaseout amendment and support the reformed Peanut Program contained in the bill, which is known as cost- and market-oriented, for the rest of the world grows an inedible, poor-quality peanut that is primarily crushed for oil. The American farmer, who only grows 10 percent of the world's supply of peanuts, is the leading exporter of edible peanuts in the world. The United States grows a premium edible peanut known for its flavor, safety, and its quality. To reduce the peanut loan rate to a world market price is to ask United States farmers to match heavily subsidized Chinese peanut prices that have no relationship to the actual cost of production of peanuts in China. Consumers should also be warned that 50 percent of all imported Argentine peanuts examined by FDA fail United States health standards and 100 percent of recent Chinese peanuts examined by FDA have failed United States health standards. It is clear this amendment is not going to help anyone. It is going to hurt the peanut farmer in America, and it is going to hurt the American consumer. I urge my colleagues to reject this amendment.”