USDA Announces Loan Rates for Rice and “Pulse” Crops

USDA Announces Loan Rates for Rice and “Pulse” Crops WASHINGTON, March 20, 2015 – The U.S. Department of Agriculture’s Commodity Credit Corporation (CCC) today announced the 2015 marketing assistance loan rates by region for dry pea, lentils, small chickpeas and large chickpeas (known as “pulses”), and by state for rough rice. Marketing assistance loans provide interim financing to producers so that commodities can be stored after harvest when market prices are typically low to be sold later when price conditions are more favorable. 2015 Rough Rice Loan Rates by State and Class State Long Grain Rice Medium Grain Rice $ per hundredweight (cwt) Arkansas 6.45 6.23 California 6.36 6.59 Louisiana 6.51 6.32 Mississippi 6.62 6.50 Missouri 6.38 6.50 Texas 6.82 6.41 U.S. Average 6.50 6.50 U.S. loan rate applies to all other states.Medium grain includes short grain. Marketing assistance loans for the 2015 rice crop are available through May 31, 2016. The loan rate for long grain whole kernels is $10.22 per cwt; for medium grain (including short grain), $9.63 per cwt; and for broken kernels (all classes), $6.51 per cwt. 2015 Regional Pulse Crop Loan Rates Crop East Region Loan Rate West Region Loan Rate National Loan Rate $/cwt Dry Peas 5.31 5.81 5.40 Lentils 10.40 14.04 11.28 Large Chickpeas 11.28 11.28 11.28 Small Chickpeas 7.43 7.43 7.43 The West region includes Alaska, Arizona, California, Hawaii, Idaho, Nevada, New Mexico, Oregon, Utah and Washington. The East region includes Montana, North Dakota and states not included in the West region. The rate for small and large chickpeas applies to all states and counties. For more information on discounts and premiums applicable to loan forfeitures, contact your local Farm Service Agency office or visit www.fsa.usda.gov/Internet/FSA_File/2-lp-grain_r01_a24.pdf Marketing assistance loans were authorized by the 2014 Farm Bill, which builds on historic economic gains in rural America over the past six years, while achieving meaningful reform and billions of dollars in savings for the taxpayer. Since enactment, the U.S. Department of Agriculture has made significant progress to implement each provision of this critical legislation, including providing disaster relief to farmers and ranchers; strengthening risk management tools; expanding access to rural credit; funding critical research; establishing innovative public-private conservation partnerships; developing new markets for rural-made products; and investing in infrastructure, housing and community facilities to help improve quality of life in rural America. For more information, visit www.usda.gov/farmbill. USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users).