By Jamie Martin
The U.S. Department of Agriculture (USDA) has announced that no actions will be taken under the Feedstock Flexibility Program (FFP) for the 2024 crop year.
This decision follows the December 2024 World Agricultural Supply and Demand Estimates report, which projects stable sugar stocks unlikely to lead to loan forfeitures.
Authorized by the 2008 Farm Bill and reauthorized in 2018, the FFP allows USDA to purchase surplus sugar to prevent price disruptions. It serves as a mechanism to mitigate loan defaults by sugar processors who use sugar as collateral. However, stable consumption and production forecasts indicate no surplus requiring intervention.
“USDA’s oversight ensures a transparent and balanced sugar market,” a USDA spokesperson stated. The next quarterly review of the FFP will be released by April 1, 2025.
The program’s stability reflects the broader USDA goal of building resilient markets and promoting fair producer outcomes. The department continues to monitor variables like domestic stocks, imports, and consumption to maintain market balance.
For more details, visit usda.gov.
Photo Credit: usda
Categories: National