Baltz talks peanut industry in NEA
POCAHONTAS—Local businessman Jeremy Baltz, of AgHeadquarters Peanuts in Pocahontas, spoke about the peanut industry at the May 1 Pocahontas Rotary luncheon and said a new farmer-owned sheller facility is opening up outside of Jonesboro.
The new operation, known as Delta Peanuts, will be constructed this year and is expected to be shelling peanuts by early 2020 while employing about 80 people. Baltz said it will be a $75 million to $80 million project and that practically all of the equity that went into the project came from peanut farmers.
“It’s a pretty big deal for us in the peanut industry,” said Baltz. “It’s going to be a farmer-owned sheller, so unlike Golden (Golden Peanut Co. whom AgHeadquarters bought peanuts for last year), it’s owned by ADM. It’s not a privately-owned company but it’s going to be a cooperative. There’s about 80 investors that, for the most part, are all farmers who are coming into this.”
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