USDA trades sugar to refiners

09/19/2013 | MarketWatch

The U.S. Department of Agriculture has given refiners 56,711 tons of sugar, which it received after sugar processors defaulted on government loans, in exchange for import credits to keep 154,193 tons of sugar from being imported into the U.S. The moves eases oversupply by taking about 97,482 tons of sugar off the domestic market, which is still oversupplied by 250,000 to 400,000 tons, according to refiners and traders.

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