Source: USDA, 9/19/13

The Commodity Credit Corporation (CCC) announced today the results of the third action taken on Sept. 12, 2013, to reduce its recently acquired sugar inventory and address the domestic sugar market. At the same time, CCC also announced an extension of the third offer to exchange the remaining sugar inventory for credits held by refiners with licenses under the Refined Sugar Re-Export Program.  

The third sugar exchange reduced CCC’s sugar inventory by 51,448 metric tons by exchanging that sugar for 139,882 metric tons of credits under the Refined Sugar Re-Export Program. CCC received an average of 2.72 tons of import access per ton of CCC inventory, and this latest action reduced sugar available to the market by 88,434 metric tons. Additional information on this action can be found online: www.fsa.usda.gov/FSA/webapp?area=home&subject=coop&topic=pas-sa.

In addition, the U.S. Department of Agriculture today announced that the CCC is extending its offer to exchange the remaining 26,003 metric tons of sugar inventory for credits held by refiners with licenses under the Refined Sugar Re-Export Program.

The Farm Service Agency’s invitation to exchange re-export credits, as well as the results of earlier USDA sugar actions, can be found on the FSA Commodity Operations website at: www.fsa.usda.gov/FSA/webapp?area=home&subject=coop&topic=landing