NEWS
Farm Service Agency
Public Affairs Staff
1400 Independence Ave SW
Stop 0506, Room 3624-South
Washington, D.C. 20250-0506
Release No. 1490.02
Jillene Johnson (202) 720-9733
jillene_johnson@wdc.usda.gov
USDA ANNOUNCES 2002-CROP FLUE-CURED TOBACCO GRADE LOAN RATES
WASHINGTON, April 8, 2002--The U.S. Department of
Agriculture's Commodity Credit Corporation today announced
grade loan rates for the 2002-crop of flue-cured tobacco,
based on the price support level of $1.656 per pound.
The 2002-crop grade loan rates range from $1.24 to
$1.94 per pound. For the 2001 crop, the price support level
was $1.66 per pound and the grade loan rates ranged from
$1.24 to $1.92 per pound.
The Flue-Cured Tobacco Cooperative Stabilization
Corporation will deduct one-cent per pound from the grade
loan rates for administrative overhead costs for tobacco
placed under loan.
Loans are not available on flue-cured tobacco
identified by a 2002 Tobacco Marketing Card bearing the
notation "No Price Support," or "Discount Variety - No Price
Support."
Tobacco offered for price support that does not have a
certification that it is free of curing-barn insulation
would have a loan value of zero. The 2002 Tobacco Marketing
Card will be marked with the notation "NO CERTIFICATION" and
individual lots of tobacco will be stamped "NO
CERTIFICATION" at the auction warehouse.
For tobacco identified by a 2002 Tobacco Marketing
Card bearing the notation "Discount Variety - Limited
Support," the applicable rates are one-half of the rates
quoted in the schedule plus 50 cents per hundred pounds.
Any grade to which the special factor "sand" or "dirt" is
added (denoting a moderate amount of sand or dirt in excess
of normal) may be accepted at 90 percent, rounded to the
nearest cent, of the rate listed in the attached schedule.
Also, loans are unavailable on tobacco grades P4G,
P5G, P5L, P5F, X4KV, X4G, X4GK, X5G, C4G, C4GK, B4KV, B5KV,
B6KV, B5V, B4G, B5G, B4GK, B5GK, B5KL, B6KF, M4KM,M4KR,
M4GK, M5KM, M5GK, N1BO, N1K, N1R, N1KV, N1GF, N1GG, N1GR,
N1L,N1GL, N1XL, N1XO, NO-G (no grade), N2 (second quality
nondescript), W (doubtful keeping order), U (unsound) or
scrap. However, marketings of these low grades will be
charged against the quotas established for farms on which
they were produced.
Further program information is available from Steve
Freeman, telephone (202) 720-7445, e-mail
steve.freeman@wdc.usda.gov. The individual grade loan rates
for the 2002-crop of flue-cured tobacco follow:
2002 CROP FLUE-CURED TOBACCO PRICE SUPPORT SCHEDULE
LOAN LOAN LOAN
GRADE RATE GRADE RATE GRADE RATE
(cents per pound farm sales weight)
B1L 194 H3F 194 X3V 147
B2L 194 H4F 194 X4V 147
B3L 194 H5F 177
B4L 194 X3KM 156
B5L 177 H4FR 194 X4KM 147
H5FR 177
B1F 194 X4KL 147
B2F 194 H4K 185 X4KF 147
B3F 194 H5K 172
B4F 194 H6K 151 P2L 156
B5F 177 P3L 140
C1L 178 P4L 140
B1FR 194 C2L 178
B2FR 194 C3L 178 P2F 156
B3FR 194 C4L 178 P3F 140
B4FR 194 C5L 158 P4F 140
B5FR 177
C1F 178 M4F 124
B3K 194 C2F 178 M5F 124
B4K 185 C3F 178
B5K 172 C4F 178
B6K 151 C5F 158
B3KR 185 C4V 158
B4KR 185 C4KR 158
B5KR 172 C4KM 158
C4KL 158
B3V 177 C4KF 158
B4V 177
X1L 166
B3KM 185 X2L 166
B4KM 177 X3L 166
B5KM 168 X4L 156
X5L 147
B3KL 168
B4KL 168 X1F 166
X2F 166
B3KF 177 X3F 166
B4KF 168 X4F 156
B5KF 151 X5F 147
X3KR 156
X4KR 147
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