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More Meetings Scheduled First
WASHINGTON (Dow Jones)--A decision on whether the U.S.
Department of Agriculture will purchase up to 350,000 metric tons
of sugar to avoid massive producer forfeitures isn't likely for
another two to three weeks, U.S. Agriculture Secretary Dan
Glickman said Tuesday.
"I have committed to meet with other members of Congress
who have contrary views. I need to make sure I meet with all sides
of this issue. So I'm not sure I can get all of that done this
week," he said.
Glickman is set to lead a delegation of U.S. officials on a
trade mission to China next week.
The U.S. sugar industry is urging the federal government to
purchase sugar from U.S. producers who might forfeit their sugar
to the government rather than pay back their loans.
This would would help boost sugar prices above the loan rate to
avoid massive forfeitures and losses of millions of dollars, they
say. |