111992 - Peanut Farming
When diving into the world of agriculture and government contracting, understanding the specific NAICS codes can significantly strengthen your business strategy. One such pivotal classification is NAICS code 111992, which pertains to Peanut Farming. Whether you're an established farmer, an entrepreneur exploring agricultural ventures, or a government contractor, knowing the ins and outs of this code is essential.
What is NAICS Code 111992?
NAICS code 111992 covers establishments primarily engaged in growing peanuts. This includes all activities required to cultivate and harvest peanuts either for direct sale or for further processing. From planting the seed to harvesting mature peanuts, this industry is vital to the agricultural economy.
Key Aspects of Peanut Farming
- Planting and cultivating peanut crops
- Managing irrigation, fertilization, pest control, and soil conditions
- Harvesting peanuts efficiently
- Preparing peanuts for sale, distribution, or processing
Sector Overview: Agriculture, Forestry, Fishing, and Hunting
NAICS 111992 falls under the broader Agriculture, Forestry, Fishing and Hunting sector. This sector groups together businesses involved in the production of crops, raising animals, forestry, and fishing operations.
Typical Business Activities Under 111992
- Commercial peanut farming operations
- Specialized peanut crop producers focusing on specific peanut varieties
- Peanut growers engaged in both large-scale and niche markets
Size Standard for NAICS 111992
To qualify as a small business under this NAICS code for government contracting purposes, the size standard is:
- $2.5 million average annual receipts
This benchmark helps determine eligibility for small business programs and contracts.
Examples of Businesses Under NAICS Code 111992
- Family-owned peanut farms operating on a commercial scale
- Agricultural cooperatives specializing in peanut production
- Agribusiness companies focusing on peanut crop innovation and yield improvement
NAICS 111992 Code Details at a Glance
| NAICS Code | Title | Description | Sector | Size Standard | Typical Business Types |
|---|---|---|---|---|---|
| 111992 | Peanut Farming | Establishments primarily engaged in growing peanuts. Includes planting, cultivating, harvesting peanuts for sale or processing. | Agriculture, Forestry, Fishing and Hunting | $2.5 million avg. annual receipts | Commercial peanut farms, Peanut growers, Specialized peanut crop producers |
FAQs About NAICS Code 111992
What activities are included in NAICS 111992 - Peanut Farming?
NAICS 111992 includes planting, cultivating, and harvesting peanuts primarily for sale or further processing.
Which sector does peanut farming belong to?
Peanut farming is part of the Agriculture, Forestry, Fishing and Hunting sector.
What is the small business size standard for peanut farming?
The size standard for NAICS 111992 is $2.5 million in average annual receipts.
Can a business growing other nuts fall under this NAICS code?
No, NAICS 111992 specifically applies to peanut farming. Other nut farming types fall under different codes.
Are agricultural cooperatives involved in NAICS 111992?
Yes, cooperatives specializing in peanut production can be categorized under this code.
Conclusion
Understanding NAICS code 111992 - Peanut Farming is crucial whether you're entering the agri-business market or pursuing government contracts. This code encapsulates a unique segment within the agriculture sector devoted to peanut production. By familiarizing yourself with the scope, typical businesses, size standards, and sector alignment, you can better position your enterprise for success and compliance.
For those engaged in or interested in agricultural contracting opportunities, mastering NAICS codes like 111992 unlocks resources, funding, and growth potential in the peanut farming industry.
Keywords: NAICS code 111992, Peanut Farming, Agriculture NAICS codes, peanut growers, peanut farming size standards, agricultural business codes, commercial peanut farms
