1995-Crop Peanut Minimum CCC Export Edible Sales Price for Additional Peanuts

DEPARTMENT OF AGRICULTURE

Commodity Credit Corporation

7 CFR Part 1421

RIN 0560-AD66

1995-Crop Peanut Minimum CCC Export Edible Sales Price for

Additional Peanuts

AGENCY: Commodity Credit Corporation, USDA.

ACTION: Proposed rule.

-----------------------------------------------------------------------

SUMMARY: This proposed rule sets forth a proposed minimum Commodity

Credit Corporation (CCC) sales price for 1995 crop of additional

peanuts for export edible use of $400 per short ton (st).

DATES: coments must be received by January 17, 1995, in order to be

assured of consideration.

ADDRESSES: Comments must be mailed to Robert Miller, Consolidated Farm

Service Agency (CFSA), United States Department of Agriculture, room

3739, South Building, PO Box 2415, Washington, DC 20013-2415. All

written submissions will be made available for public inspection from

8:15 a.m. to 4:45 p.m., Monday through Friday, in room 3739, South

Building, 14th and Independence Avenue SW., Washington, DC.

FOR FURTHER INFORMATION CONTACT:

Robert Miller, CFSA, USDA, room 3739, South Building, P.O. Box 2415,

Washington, DC 20013-2415, telephone 202-720-7477.

SUPPLEMENTARY INFORMATION: .

Executive Order 12866

This proposed rule has been determined to be significant and was

reviewed by OMB under Executive Order 12866.

Federal Assistance Program

The title and number of the Federal Assistance Program, as found in

the Catalog of Federal Domestic Assistance, to which this rule applies,

are Commodity Loans and Purchases--10.051.

Executive Order 12778

This rule has been reviewed in accordance with Executive Order

12778. The provisions of this rule do not preempt Sate law, are not

retroactive, and do not involve administrative appeals.

Regulatory Flexibility Act

It has been determined that the Regulatory Flexibility Act is not

applicable because CCC is not required by 5 U.S.C. 553 or any other

provision of law to publish a notice of proposed rulemaking with

respect to the subject of these determinations.

Paperwork Reduction Act

The amendments to 7 CFR part 1421 set forth in this proposed rule

do not contain information collections that require clearance by the

Office of Management and Budget under the provisions of 44 U.S.C.

chapter 35.

Discussion

This proposed rule would amend 7 CFR part 1421 to set forth the

minimum CCC sales price for the 1995 crop of [[Page 382]] additional

peanuts sold for export edible use.

A minimum price, at which additional peanuts owned or controlled by

CCC may be sold for use as edible peanuts in export markets, is

expected to be announced on or before February 15, 1995, at the same

time that the quota and additional peanut support levels for the 1995

crop are announced. The announcement of the price provides producers

and handlers with information to facilitate the negotiation of private

contracts for the sale of additional peanuts.

An overly high price may create an unrealistic expectation of high

pool dividends and discourage private sales. If too low, the minimum

price could have an unnecessary, adverse effect on prices paid to

producers for additional peanuts.

It is proposed that the minimum price at which the 1995 crop of

additional peanuts owned or controlled by CCC may be sold for use as

edible peanuts in export markets be established at $400 per st, the

same as for the 1994 crop. This level will maintain exports while

providing price stability for additional peanuts sold under contract.

It will also assure handlers that CCC will not undercut their export

contracting efforts with offerings of additional peanuts for export

edible sale below the minimum sales price.

Accordingly, comments are requested with respect to these foregoing

issues.

List of Subjects 7 CFR Part 1421

Grains, Loan programs--agriculture, Oilseeds, Peanuts, Price

support programs, Reporting and recordkeeping requirements, Soybeans,

Surety bonds, Warehouses.

Accordingly, it is proposed that 7 CFR part 1421 be amended as

follows:

PART 1421--GRAINS AND SIMILARLY HANDLED COMMODITIES

3. The authority citation for 7 CFR part 1421 continues to read as

follows:

Authority: 7 U.S.C. 1421, 1423, 1425, 1441z, 1444f-1, 1445b-3a,

1445c-3, 1445e, and 1446f; 15 U.S.C. 714b and 714c.

4. Section 1421.27 is amended by:

A. Removing the period at the end of paragraph (a)(2)(iv) and

inserting a semicolon followed by the work ``and'' in its place, and

B. Adding a new paragraph (a)(2)(v):

Sec. 1421.27 Producer-handler purchases of additional peanuts pledged

as collateral for a loan.

(a) * * *

(2) * * *

(v) The minimum CCC sales price for additional peanuts sold for

export edible use for the 1995 crop is $400 per short ton.

* * * * *

Signed at Washington, DC, on December 27, 1994.

Bruce R. Weber,

Acting Executive Vice President, Commodity Credit Corporation.

[FR Doc. 95-00132 Filed 1-3-95; 8:45 am]

BILLING CODE 3410-05-P-M