WASHINGTON, March 30, 2016 – The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation (CCC) today announced the 2016 marketing assistance loan rates by region for pulses (dry peas, lentils, small chickpeas and large chickpeas), and by state for rough rice.

USDA Announces Loan Rates for Rice and Pulse Crops

For Immediate Release
March 30, 2016

U.S. Department of Agriculture, Florida/Virgin Islands Farm Service Agency
PO Box 141030
Gainesville, Florida 32614-1030
http://www.fsa.usda.gov/fl

Contact:

Janet Wright
352-379-4518
janet.wright@fl.usda.gov

WASHINGTON, March 30, 2016 – The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation (CCC) today announced the 2016 marketing assistance loan rates by region for pulses (dry peas, lentils, small chickpeas and large chickpeas), and by state for rough rice.

Marketing assistance loans provide interim financing to producers so that commodities can be stored after harvest when market prices are typically low, to be sold later when price conditions are more favorable.

2016 Rough Rice Loan Rates by State and Class

State

Long Grain Rice

Medium Grain Rice

$ per hundredweight (cwt.)

Arkansas

6.45

6.29

California

6.41

6.57

Louisiana

6.50

6.42

Mississippi

6.59

6.50

Missouri

6.45

6.50

Texas

6.83

6.50

U.S. Average

6.50

6.50

U.S. loan rate applies to all other states.

Medium grain includes short grain.

For warehouse-stored loans, national loan rates for whole and broken kernels are used to establish loan proceeds based on the milling out-turns reported on the warehouse receipt. Marketing assistance loans for the 2016 rice crop are available through May 31, 2017. The loan rate for long grain whole kernels is $9.98 per hundred weight (cwt); for medium grain (including short grain), $9.55 per cwt.; and for broken kernels (all classes), $7.16 per cwt.

2016 Regional Pulse Crop Loan Rates

Crop

East Region

Loan Rate

West Region

Loan Rate

National

Loan Rate

$/cwt.

Dry Peas

5.29

5.97

5.40

Lentils

10.59

13.86

11.28

Large Chickpeas

11.28

11.28

11.28

Small Chickpeas

7.43

7.43

7.43

The West region includes Alaska, Arizona, California, Hawaii, Idaho, Nevada, New Mexico, Oregon, Utah and Washington. The East region includes Montana, North Dakota and states not included in the West region. The rate for small and large chickpeas applies to all states and counties.

For more information on discounts and premiums applicable to loan forfeitures, contact your local Farm Service Agency (FSA) office or visit www.fsa.usda.gov/Internet/FSA_File/2-lp-grain_r01_a31.pdf. To find your local FSA office, visit http://offices.usda.gov.

Marketing assistance loans were authorized by the 2014 Farm Bill, which builds on historic economic gains in rural America over the past seven years, while achieving meaningful reform and billions of dollars in savings for the taxpayer. Since enactment, USDA has implemented each provision of this critical legislation, including providing disaster relief to farmers and ranchers; strengthening risk management tools; expanding access to rural credit; funding critical research; establishing innovative public-private conservation partnerships; developing new markets for rural-made products; and investing in infrastructure, housing and community facilities to help improve quality of life in rural America. For more information, visit www.usda.gov/farmbill.

USDA is an equal opportunity provider, employer and lender. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users).