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Source: USDA, 12/18/12
The Department of Agriculture's Commodity Credit Corporation (CCC) today announced that no storage deficit areas have been determined for the 2012-crop cotton marketing year.
CCC determines that a storage deficit area exists if the production of cotton exceeds the combined approved inside storage capacity of warehouses that have entered into a cotton storage agreement with CCC, less carry-in stocks for the area. Approved cotton storage warehouse operators located in a storage deficit area may apply to CCC for authorization to store cotton that is pledged as collateral for a CCC loan in specifically designated outside areas.
Based on Oct. 12, 2012, production estimates and carry-in stock reports from the National Agricultural Statistics Service, CCC determined there was no cotton storage deficit and therefore did not designate storage deficit areas for the 2012- crop cotton.
For further information contact Paul Rodriguez at 816-926-6662 or Paul.Rodriguez@kcc.usda.gov.
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