Storage rates for forfeited sugar get a floor from the 2025 crop year
What the document says“For the 2025 crop year and each subsequent crop year, the Commodity Credit Corporation shall establish rates for the storage of forfeited sugar in an amount that is not less than--”
The section strikes subsection (a) of section 167 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7287) and inserts a new one requiring storage rates for forfeited sugar of at least 34 cents per hundredweight per month for refined sugar and at least 27 cents per hundredweight per month for raw cane sugar, and changes the heading and wording of subsection (b) so that it applies to crop years through 2024.
What the document actually says“For the 2025 crop year and each subsequent crop year, the Commodity Credit Corporation shall establish rates for the storage of forfeited sugar in an amount that is not less than--”
From the 2025 crop year the storage rates get a floor. The two figures that follow set it.
Refined sugar cannot go below 34 cents per hundredweight a month. Raw cane sugar cannot go below 27 cents. Forfeited sugar is sugar handed over instead of paying back a loan.
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