Peanut growers begin signing up for $1.3 billion buyout

ALBANY - Peanut quota owners signed up Wednesday for part of a $1.3 billion government buyout. <br> <br> The government previous guaranteed some farmers substantially more money than others for peanuts grown from Georgia to Texas. <br> <br> The buyout will give money to farmers who benefited and help wean them off the quotas. <br> <br> The U.S. Department of Agriculture will pay quota holders 55 cents per pound, which they can collect in a lump sum payment or spread out over five years. <br> <br> Georgia quota holders stand to receive about $520 million. <br> <br> Peanut industry newsletter publisher Tyron Spearman says the influx of cash will benefit many areas in south Georgia. <br> <br> The quota system has been replaced with a new system of direct subsidies to growers. Only those who have been growing peanuts qualify for the subsidies. <br> <br> Georgia&#39;s congressional delegation opted for the buyout because their colleagues from other states would not support a continuation of the quota system.