White House Statement on the Increase of the Import Quota on Peanuts

On the basis of an investigation and report of the United States International Trade Commission, the President has decided to increase the import quota on peanuts to 100 million pounds for the current marketing year, which ends on July 31. This represents an increase from a quota of 1.7 million pounds.

Under section 22 of the Agricultural Adjustment Act of 1933, the President may modify, suspend, or terminate import quotas provided such action would not materially interfere with the peanut price support program operated by the U.S. Department of Agriculture.

Note: This item was not received in time for inclusion in last week's issue.