$74 million in tax-subsidized farm loans repaid in actual peanuts
The U.S. Department of Agriculture’s peanut farming loan program allows repayment in the commensurate value of peanuts instead of money. About $74 million was loaned to farmers in 2016. More peanuts are grown than can be readily consumed. Almost 400 million pounds of peanuts sit in storage. Worse, storage costs may surpass $1 billion annually.
