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BIG WINS FOR THE NATIONAL PEANUT BOARD: 93% Approval in Referendum | Every Dollar Invested Returns $11.10
from PQ 50
By Lindsay Stevens
The National Peanut Board (NPB) conducted both its referendum and economic evaluation this year, which both received overwhelmingly positive results.
First, U.S. peanut producers voted overwhelmingly to continue the Peanut Promotion, Research, and Information Program, administered by NPB, in a referendum conducted by the U.S. Department of Agriculture (USDA) from April 8-19, 2024. Results show that 93.23% of voting farmers said “yes” to continuing NPB’s research, marketing and promotion program.
“We accomplished almost every goal in our strategic plan, including reaching record-high per capita consumption of 7.8 pounds in 2022, growing peanut love among millennial and Gen Z consumers, and making peanut production more sustainable,” said NPB President and CEO Ryan Lepicier. “This resounding approval encourages us to continue working as hard as we can to drive impact for America’s peanut farmers and their families.”
“I am extremely proud of the work NPB does as a whole but especially proud of our work in the areas of production research and peanut allergy prevention,” said Greg Baltz, 2024 NPB chairman and a peanut farmer from Arkansas. “It’s great to see that U.S. peanut farmers value the exceptional work that the Board does promoting our sustainable, nutritious peanuts.”
NPB also released its Return on Investment (ROI) report, revealing the significant positive influence of NPB activities on peanut demand and supply across the U.S. The comprehensive analysis by agricultural economist Dr. Harry M. Kaiser underscores NPB’s vital role in driving the peanut industry’s growth.
Each dollar invested in:
Promotions yielded $11.10 in net revenue
Research yielded $12.45 for peanut growers
Due to NPB marketing activities from 2019 to 2023:
Domestic Demand Increased 4.6%
Peanut Production Increased 2%
Peanut Yields Increased 1.7%
“The findings of this report clearly demonstrate the essential role NPB plays in sustaining and enhancing the peanut industry in the U.S. Our commitment to innovative marketing strategies and cutting-edge production research continues to deliver substantial benefits to peanut growers nationwide,” said Ryan Lepicier.
