Make the most of peanut farm loans by making these wise peanut crop selections.
Peanuts are a commodity that continues to grow quickly in popularity, making them a good choice for farming diversification or a new peanut farm ag venture with a peanut farm loan. According to peanut ag facts from the University of Georgia (UGA) Extension, Americans can’t get enough of the high-protein, high-fiber legume; they eat 2.4 million pounds of peanut butter a year and one million pounds of roasted peanuts every day.
The peanut’s popularity makes it an attractive cash crop. Once you’ve secured a peanut farm loan, it’s time to turn your attention to identifying good crop choices that make the most of your peanut land loan.
Smart Crop Choices for Your Peanut Farm Loan
It’s important to make the right choices to ensure the success of your peanut farm. The first place to start is in choosing the variety. There are four main kinds of peanut plants—Virginia, runner, Valencia, and Spanish—and there are a multitude of varieties within each type.
Choosing the right type and variety for your area is vitally importance. Georgia is the top peanut producer in the country, producing over 45 percent of the country’s peanuts. Just a bit to the north, South Carolina growers are making forays into peanuts, but Georgia peanut varieties are not going to grow and produce as well in in South Carolina as they do in Georgia. This is due to a number of factors, even though South Carolina and Georgia share a border and similar climates.
Factors such as soil composition, water, climate, pests, and diseases are all factors that peanut growers need to take into consideration. The amount of information needed to be successful is nearly overwhelming, but luckily there are resources available so farmers don’t have to go it alone.
Finding Peanut Farm Resources
The best resources available for the country’s farmers and ranchers are offered through Extension services that pair with local universities and colleges. For instance, just as peanut growers in Georgia can look to UGA’s Extension services, peanut farmers in South Carolina can turn to Clemson University Extension’s 2016 Peanut Production Guide. The guide offers answers on a multitude of questions, from choosing the best varieties to beating pests in South Carolina. The information and research available is regional, meaning it will best apply to local agricultural productions.
At AgAmerica Lending, we’re your premier resource for farm ag loans. We take pride in helping the nation’s growers and producers find success with our low interest rates, long amortizations, and outstanding 10-year line of credit.