At last week’s Peanut Convention in Panama City, Congressman GT Thompson, Chairman of the House Agriculture Committee, addressed attendees with updates on the latest farm bill—referred to as “One Big Beautiful Bill” passed in Washington. Thompson outlined several critical provisions tailored to benefit peanut growers and emphasized the collaborative process that helped shape the legislation.
Farmers Helped Shape the Bill
Congressman Thompson opened his remarks by thanking peanut producers and stakeholders for their active role in shaping the farm bill. “I want to thank you for being at the table and helping us to follow your direction,” he said. He acknowledged that the guidance and input from industry professionals directly informed the priorities and content of the bill.
Reference Price Increase for Peanuts
One of the most significant changes highlighted by Thompson was the increase in the peanut reference price. “The reference price was the first top priority for peanuts,” he stated. The farm bill includes an 18% increase in the reference price, a major boost for growers seeking greater financial stability amid rising input costs. “That’s where we should be,” he said, “and we need to be.”
Expanded Base Acre Eligibility
Another major provision in the bill is the expansion of base acres. The legislation adds 30 million new base acres, making more producers eligible for program participation. Thompson pointed out that many growers were previously excluded and unable to benefit from base acre programs. With this change, more farmers can now access crucial farm support resources.
Doubling of Export Promotion Funds
Recognizing the importance of global markets for peanut producers—who export approximately 20% of their crop—Thompson announced a doubling of funds for two key export initiatives: the Foreign Market Development (FMD) Program and the Market Access Program (MAP). “This has not been increased in about 10 years,” he noted. The expanded funding is expected to significantly enhance U.S. peanut promotion efforts abroad.
Conclusion
In his address, Congressman G.T. Thompson reaffirmed his commitment to meeting the needs of peanut growers through targeted farm bill provisions. With increased reference prices, expanded eligibility, and greater support for export markets, the bill aims to strengthen the U.S. peanut industry’s domestic and global competitiveness.