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Article: Many farmers taking buyout in lump sum buyout.

Article from:
Messenger-Inquirer (Owensboro, KY)
Article date:
October 28, 2005
Copyright

Byline: James Mayse

Oct. 28--In just over seven weeks, more than 12,000 farmers have signed up with Farm Credit Services to receive a lump sum payment for their portion of the tobacco quota buyout.

Farm Credit Services of Mid-America, which covers Kentucky, Tennessee, Indiana and Ohio, had signed contracts with 12,216 tobacco growers and quota owners as of Thursday afternoon. The growers and quota owners will receive one lump sum payment -- at a fee -- rather than annual buyout payments over the next nine years.

The quota buyout was signed into law last year, and the first payment was made this year. It ended tobacco price support and ...

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