House Agriculture Committee Chairman Thompson (R-PA) releases draft US Farm Bill

US House Committee on Agriculture
Friday, May 17, 2024
House Agriculture Committee Chairman Thompson (R-PA) today released the Republican draft of the Farm Bill. For sugar, this draft proposes: To increase the raw cane sugar loan rate from the current 19.75 cents per pound to 24 cents per pound (but so long as the Suspension Agreement remains in effect, it will continue to de facto set an even higher minimum market price); To require any US import quota (TRQ) shortfall be reallocated when the TRQ is announced, and any additional shortfall reallocation as may be necessary shall be done by March 1 (provided the Suspension Agreement remains in effect); and To authorize the USDA to study changes to the definition of refined sugar regarding pol, color, packaging and mode of transportation.
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