USDA says no sugar needed for Feedstock Flexibility Program in 2018

January 1, 2019 |

In Washington, The U.S. Department of Agriculture (USDA) Commodity Credit Corporation (CCC) announced that it does not expect to purchase and sell sugar under the Feedstock Flexibility Program for crop year 2018, which runs from Oct. 1, 2018 to Sept. 30, 2019.
The CCC is required by law each quarter to announce estimates of sugar to be purchased and sold under the Feedstock Flexibility Program based on crop and consumption forecasts.

Federal law allows sugar processors to obtain loans from USDA with maturities of up to nine months when the sugarcane or sugar beet harvest begins. Upon loan maturity, the sugar processor may repay the loan in full or forfeit the collateral (sugar) to USDA to satisfy the loan.

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