USDA Announces No Extra Storage Areas Needed for 2016-Crop Cotton Marketing Assistance Loan Program

WASHINGTON, Dec. 7, 2016 – The U.S. Department of Agriculture's (USDA) Commodity Credit Corporation (CCC) today announced that there is not a cotton storage deficit.

USDA Announces No Extra Storage Areas Needed for 2016-Crop Cotton Marketing Assistance Loan Program

Release No. 0207.16

Contact:
Kent Politsch (202)720-7163

WASHINGTON, Dec. 7, 2016 – The U.S. Department of Agriculture's (USDA) Commodity Credit Corporation (CCC) today announced that there is not a cotton storage deficit.

The determination was made based on Oct. 1, 2016, production estimates and carry-in stock reports. Since there is no deficit, the CCC has determined that extra storage is not needed for the 2016 cotton crop.

CCC determines that a storage deficit area exists if the production of cotton exceeds the combined approved inside storage capacity of warehouses that have entered into a cotton storage agreement with CCC, less carry-in stocks for the area. Approved cotton storage warehouse operators located in a storage deficit area may apply to CCC for authorization to store cotton that is pledged as collateral for a CCC marketing assistance loan in specifically designated outside areas.

For further information contact Paul Rodriguez at 816-926-6662 or email Paul.Rodriguez@kcc.usda.gov.

USDA works to strengthen and support American agriculture, an industry that supports one in 11 American jobs, provides American consumers with more than 80 percent of the food we consume, ensures that Americans spend less of their paychecks at the grocery store than most people in other countries, and supports markets for homegrown renewable energy and materials. Since 2009, USDA has provided $5.6 billion in disaster relief to farmers and ranchers; expanded risk management tools with products like Whole Farm Revenue Protection; and helped farm businesses grow with $36 billion in farm credit. The Department has engaged its resources to support a strong next generation of farmers and ranchers by improving access to land and capital; building new markets and market opportunities; and extending new conservation opportunities. USDA has developed new markets for rural-made products, including more than 2,700 biobased products through USDA's BioPreferred program; and invested $64 billion in infrastructure and community facilities to help improve the quality of life in rural America. For more information, visit www.usda.gov/results.

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