USDA Says No Determination on How to Trim U.S. Sugar Surplus
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The U.S. Department of Agriculture hasn’t decided how to reduce the country’s sugar surplus, Justin DeJong, a spokesman for the agency, said today in an e-mail.
DeJong was responding to a report that the government is considering the purchase of 400,000 tons of sugar to prop up falling domestic prices and to stave off defaults by processors on $862 million in loans taken out under a government price-support program. The potential purchase was reported by the Wall Street Journal.