USDA sugar purchase would hurt candy makers

03/13/2013 | Wall Street Journal, The

The U.S. Department of Agriculture may buy 400,000 tons of sugar to prevent prices from falling and assist sugar processors who have borrowed more than $860 million as part of the current sugar program. "If the USDA has to intervene ... we're going to be unfairly leaving consumers and businesses on the hook to foot the bill and that is unacceptable," said Sen. Jeanne Shaheen, D-N.H., who co-sponsored a bill to grant the agency more freedom in handling the sugar program. The agency might opt not to act if sugar prices rebound on their own, according to USDA economist Barbara Fecso.

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