Peanut Act

[AI summary unavailable — showing source text] Peanut Act - Provides, under the Agricultural Adjustment Act of 1938, that the amount of the marketing quota for each farm for crops prior to the 1975 crop shall be the actual production of the farm-acreage allotment, and no peanuts shall be marketed under the quota for any farm other than peanuts actually produced on the farm. States that, notwithstanding any other provision of law, the farm yield in the case of peanuts for each farm for which a farm acreage allotment has been established shall be determined on the basis of the actual yield per harvested acre during the three calendar years immediately preceding the year in which such farm yield is determined; with drought, flood, or other natural disaster or condition beyond the control of the producer taken into account. Provides that a farm marketing quota shall be determined for each farm for which a farm peanut acreage allotment is established under this Act by multiplying the farm acreage allotment by the farm yield, providing also for increases in such quotas. States that all persons who purchase peanuts from producers or from associations of producers shall pay not less than the net support price established under the Agri…