The U.S. Department of Agriculture announces fiscal year 2025 sugar loan rates, allotment, and marketing allocations

Published 2024년 9월 24일

Tridge summary

The USDA's Commodity Credit Corporation (CCC) has announced the sugar loan rates for the 2024 crop year, providing interim financing to sugar beet and sugarcane processors. These loans, which help processors store sugar post-harvest for later sale, have national average rates of 19.75 cents per pound for raw cane sugar and 25.38 cents per pound for refined beet sugar, with regional adjustments. Available from October 1, 2024, the loans mature after nine months or at the fiscal year's end. Eligibility requires processors to meet minimum grower payment requirements. This initiative aligns with the Biden-Harris administration's focus on transforming America's food system towards resilience, fair markets, and equity.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

1400 Independence Ave. SW Washington, D.C. 20250 FPAC.BC.Press@usda.gov WASHINGTON, Sept. 24, 2024 – The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation (CCC) today announced sugar loan rates for crop year 2024 (fiscal year 2025). Marketing Assistance Loan Rates USDA offers commodity loans to processors of sugar beets and domestically grown sugarcane to provide interim financing to producers so that sugar can be stored after harvest when market prices are typically low and then sold later when price conditions are more favorable. The 2018 Farm Bill increased the national average loan rate to 19.75 cents per pound for raw cane sugar and 25.38 cents per pound for refined beet sugar. These rates are adjusted regionally to reflect marketing cost differentials. Loans are available beginning Oct. 1, 2024, and mature at the end of the nine-month period beginning the first day of the first month after the month in which the loan is made, or the end of the fiscal year ...

Source: USDA