C.C.C. sells 216,750 tons of sugar

by Ron Sterk
Share This:
Search for similar articles by keyword: [Sugar]

WASHINGTON — The U.S. Department of Agriculture’s Commodity Credit Corp. said Nov. 22 it sold 216,750 tons of sugar for use in biofuel production under the Feedstock Flexibility Program (F.F.P.) in its Nov. 14 tender that closed Nov. 20.

The C.C.C. acquired 296,500 short tons of sugar on Oct. 1 in lieu of repayment of remaining 2012 crop year sugar loans that came due Sept. 30. The remaining 79,750 tons of sugar not sold in the tender was reoffered for sale by the C.C.C. “for both bioenergy production under the F.F.P. and other non-food uses.”

The sugar was sold for $11.3 million, about a 90% discount to the loan values for which it was forfeited.

Under the 2008 farm bill, the C.C.C. is prohibited from selling forfeited sugar for domestic human consumption unless there is an emergency shortage.

The C.C.C. sold 143,143 short tons of sugar under previous F.F.P. tenders a couple of months back.
Add a Comment
We welcome your thoughtful comments. Please comply with our Community rules.








The views expressed in the comments section of Baking Business News do not reflect those of Baking Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.