August 19, 2024 – ATLANTA – The National Peanut Board (NPB) released its highly anticipated Economic Evaluation, commonly referred to as the Return on Investment (ROI) report, revealing the significant positive influence of NPB activities on peanut demand and supply across the United States. The comprehensive analysis, authored by renowned agricultural economist Dr. Harry M. Kaiser, underscores the NPB's vital role in driving the peanut industry's growth.
Key highlights from the report showcase a remarkable overall benefit-cost ratio (BCR) of $11.10 for all NPB initiatives, demonstrating the value derived from NPB's combined promotional and research efforts is over eleven times the investment cost. For every additional dollar invested in NPB activities, peanut producers enjoyed an impressive $11.10 increase in net revenue.
Additionally, each dollar invested in NPB-sponsored production research yielded $12.45 in profit for peanut growers.
"The findings of this report clearly demonstrate the essential role NPB plays in sustaining and enhancing the peanut industry in the United States," said NPB CEO Ryan Lepicier. "Our commitment to innovative marketing strategies and cutting-edge production research continues to deliver substantial benefits to peanut growers nationwide,” he continued.
The report reveals that NPB marketing activities from 2019 to 2023 significantly boosted total domestic peanut demand by 4.6% above expected levels. Furthermore, thanks to NPB-sponsored production research, peanut production and yields were enhanced by 2% and 1.7% respectively, surpassing standard projections.
"These remarkable results underscore the effectiveness of our targeted initiatives and the enduring value they provide to our stakeholders," commented NPB Chairman Greg Baltz. "Our strategic focus on business development and reputation management has proven to be a game-changer for the industry," he continued.
Dr. Harry M. Kaiser, who conducted the study, noted the exceptional impact of the NPB's activities: "The data clearly illustrate the substantial return on investment achievedthrough the NPB's comprehensive approach to marketing and research. This report affirms the critical importance of continued investment in these areas."
The National Peanut Board remains steadfast in its mission to promote and support the U.S. peanut industry through strategic marketing, research, and education initiatives.
To view and download the full ROI Study including an Executive Summary, click here.
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About the National Peanut Board
The National Peanut Board represents USA peanut farmers and their families. Through research and marketing initiatives the Board is finding new ways to enhance production and increase consumer demand by promoting the great taste, nutrition and culinary versatility of USA-grown peanuts. For more information about the Board, visit www.nationalpeanutboard.org.