Farmers will get $559 per ton for quota peanuts.
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The 1985 government price support is 1.6%, or $9 per ton, above last year’s price support, the Agriculture Department said. The national average support price was raised under a formula that takes into consideration increases in average production costs, excluding any calculation for land costs. Law limits the increase to no more than 6% a year. Agriculture Secretary John R. Block also said farmers will receive $148 per ton for peanuts grown in addition to quota peanuts. That level is $37 per ton less than the 1984 level. The support level on additional peanuts was set to ensure that the government will lose no money from selling or disposing of them.