| Holly Sugar announced the first initial payment on the 2001 beet crop.
According to Craig Spencer, Holly ag manager, the gross amount of
payment in the amount of $9,248,570.52 for the Torrington area was mailed
out last Tuesday.
The average payment to be made at this time is $32.16 per ton based
on the average sugar content of 16.72 percent, he said.
Holly Sugar contracted 21,500 acres for the year with 110 growers,
Spencer said. Growers are getting paid 80 percent of the total on the
initial payment based on a $23 net selling price.
Hollys second payment for the sugar beet crop will be made April 5,
2002, and the final one, Oct. 31, 2002.
Western Sugar Company has also announced its first initial payment on
the 2001 beet crop. According to Kent Wimmer, director of agriculture for
Western, the payment, totaling $76,825,018.10 represents $30.22 per ton,
based on an average sugar content of 16.15 percent. The checks were mailed
Tuesday to approximately 1,250 growers in Colorado, Montana, Nebraska and
Wyoming.
Wimmer said Western Sugar had about 973 acres with 11 growers under
contract in the Torrington area. The actual yield for the Torrington area
was 18.37 tons per acre with 16.79 percent sugar content. Western sugars
payment is based on 80 percent of the USDA loan rate, which this year is
$23.83, Wimmer said.
Westerns second payment for the sugar beet crop will be made March
14, 2002, and the last one Oct. 31, 2002. |