Sugar loan rates unchanged from year ago

by Staff
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WASHINGTON — The U.S. Department of Agriculture’s Commodity Credit Corp. said 2007-08 sugar loan rates were unchanged from the previous year, with the national average loan rate at 18c per lb for raw cane sugar and 22.9c per lb for refined beet sugar.

Loan rates for refined beet sugar by region are:

• Michigan and Ohio, 24.17c per lb

• Minnesota and eastern half North Dakota, 22.89c per lb

• Northeastern quarter of Colorado, Nebraska and the southeastern quarter of Wyoming, 22.95c per lb

• Montana, northwestern quarter of Wyoming and the western half of North Dakota, 23c per lb

• Idaho, Oregon and Washington, 22.03c per lb

• California, 23.62c per lb

Loan rates for cane sugar by state:

• Florida, 18.07c per lb

• Hawaii, 16.64c per lb (18c per lb if stored in mainland)

• Louisiana, 18.27c per lb

• Texas, 17.27c per lb

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