WASHINGTON — The U.S. Department of Agriculture’s Commodity Credit Corp. on Thursday set the 2011-12 domestic overall sugar marketing allotment (O.A.Q.) at 9,456,250 short tons, raw value, equal to 85% of the sugar for food use of 11,125,000 tons forecast in the July (and August) World Agricultural Supply and Demand Estimates as required by statute.
The C.C.C. distributed 5,139,472 tons, or 54.35%, to beet sugar and 4,316,778 tons, or 45.65%, to cane sugar, also as required by statute. The total 2011-12 O.A.Q. compares with 9,235,250 tons initially allocated for the current year (2010-11), which ends Sept. 30, 2011.
The C.C.C. also said it determined the Feedstock Flexibility Program (F.F.P.) will not be implemented in 2011-12 based on forecast limited sugar supplies and prices significantly above the support level.
“The prospect of forfeitures of sugar loan collateral under C.C.C. price support loads in FY 2012, which triggers F.F.P., was determined to be unlikely,” the U.S.D.A. said.