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Peanut acreage in Ga. hits 30-year low | Business

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Peanut acreage in Ga. hits 30-year low
Peanut acreage in Ga. hits 30-year low

ATHENS, Ga. -- A report by the University of Georgia says peanut acreage in the state has dropped to the lowest in three decades, but prices have risen.

A survey by the U.S. Department of Agriculture reported that farmers planted 480,000 acres of peanuts this spring. Georgia's peanut acreage has only fallen below 500,000 acres twice in the last 30 years, the last time being 2000.

The university's report says peanut acres are down nationally, with 10.5 percent fewer acres planted than last year.

The Georgia Agricultural Statistics Service says more than 20 percent of the peanuts in Georgia are rated as poor to very poor.

The UGA report said last year's crop coming out of storage is selling for $750 a ton. The price earlier this year was $600 a ton.

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