USDA sells remaining sugar for ethanol to two producers

In Washington, The U.S. Department of Agriculture’s Commodity Credit Corporation (CCC) announced the results of the Dec. 3 invitation to sell the remainder of its recently acquired sugar inventory for non-food uses. CCC successfully sold its entire remaining inventory, 79,750 short tons, for $8.2 million.

Quality Feeds Ltd. bought 90 million pounds of cane sugar at between 2.7 and 3.3 cents per pound. The remaining 69.5 million pounds of beet sugar were sold to Mann Lake Ltd. for between 7.5 and 8.5 cents per pound.

CCC acquired 296,500 short tons of sugar on Oct. 1, 2013, in lieu of cash repayments on its remaining 2012 crop year sugar loans. These sugar loan forfeitures were the result of record domestic sugar production, record Mexican sugar imports, and world prices falling below U.S. price support levels for the first time in several years.