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MEDIA RELEASE Farm Service Agency Public Affairs Staff 1400 Independence Ave SW Stop 0506, Room 3624-South Washington, D.C. 20250-0506
Release No. 1432.09
Jonathan Groveman (202) 720-4178
WASHINGTON, March 10, 2009 ?The Department of Agriculture?s Commodity Credit Corporation (CCC) announced today that the 2009 rice loan rates for farm-stored rice by class are as follows:
2009 Farm-Stored Loan Rates for Rough Rice, by Class:
State | Long Grain ($/cwt) | Medium/Short Grain ($/cwt) |
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Arkansas | 6.48 | 6.32 |
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California | 6.45 | 6.54 |
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Louisiana | 6.48 | 6.36 |
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Mississippi | 6.57 | 6.50 |
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Missouri | 6.43 | 6.50 |
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Texas | 6.70 | 6.50 |
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National Avg. | 6.50 | 6.50 |
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The national average loan rate for rough rice is used to determine farm-stored loan proceeds in other rice-producing states.
The national loan rates for both long grain and medium/short grain rough rice are specified at $6.50 per hundredweight (cwt) for the 2008 through 2012 crops in the Food, Conservation, and Energy Act of 2008. Loan rates by state are determined by the national milled loan rate factors and the state average milling yields.
2009 Milled Rice Loan Rates:
For 2009 crop rice stored in commercial warehouses, the whole kernel milled rice loan rates are $9.94 per cwt for long grain and $9.72 for medium/short grain. The broken kernel loan rate for all classes is $6.84 per cwt. Milled rice loan rates are computed using average milling yields by class and the statutorily determined rough rice loan rate of $6.50.
2009 Rice Loan Rate Discounts:
The loan rate discounts for grades (per cwt of rough rice) lower than Grade two are unchanged for the 2009 crop. The discounts are $0.30 for Grade three, $0.60 for Grade four, $1.00 for Grade five, $2.00 for Grade six, and $5.50 for Sample Grade.
Discounts for smut content (per cwt of rough rice) are also unchanged at 5 cents for 0.1 - 1.0 percent smut; 10 cents for 1.1 - 2.0 percent smut; and 15 cents for 2.1 - 3.0 percent smut. Rice containing more than 3.0 percent smut is termed "smutty" and is eligible for a loan as low-quality rice. Smutty rice is considered Sample Grade. Low quality or smutty rice is eligible for a loan at 20 percent of the grade-discounted loan value.
Further program information is available from Bill Chambers at (202) 720-3134 or by e-mail at william.chambers@usda.gov.
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