USDA to spend $38 million on U.S. sugar excess

06/20/2013 | · Bloomberg

The USDA is planning a $38 million expenditure to buy off excess raw sugar in the U.S. sugar market in order to prevent the industry from defaulting on as much as $700 million in government loans. “USDA is doing all that is possible to help stave off the very real taxpayer costs that are coming down the pike as a result of the outdated U.S. sugar program, which is in desperate need of reform," said Larry Graham, president of NCA.

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