 NEWS
Farm Service Agency
Public Affairs Staff
1400 Independence Ave SW
Stop 0506, Room 3633-South
Washington, D.C. 20250-0506
Release No.1535.02
Program Announcement
Dann Stuart (202) 690-0474
Dan_Stuart@wdc.usda.gov
USDA ANNOUNCES PREVAILING WORLD MARKET PRICES AND LOAN DEFICIENCY PAYMENT
RATES FOR RICE
WASHINGTON, May 21, 2002 The Department of Agriculture's Commodity
Credit Corporation today announced the following prevailing world market
prices of milled and rough rice, adjusted for U.S. milling yields and
location, and the resulting marketing loan gain (MLG) and loan deficiency
payment (LDP) rates, which will become effective today at 3:00 p.m. Rice
prices are increased by $0.08 per cwt for long grain, and by $0.09 per cwt for
medium and short grain, causing corresponding decreases in MLG/LDP rates.
---------World Price-------- MLG/LDP Rate
Milled Value Rough Rough
($/cwt) ($/cwt) ($/cwt)
Long Grain 5.82 3.62 3.03
Medium Grain 5.26 3.34 2.81
Short Grain 5.27 3.38 2.83
Brokens 2.91 ---- ----
This week's prevailing world market prices and MLG/LDP rates are based
on the following U.S. milling yields and the corresponding loan rates:
U.S. Milling Yields Loan Rate
Whole/Broken
(lbs/cwt) ($/cwt)
Long Grain 56.54/11.29 6.65
Medium Grain 57.17/11.35 6.15
Short Grain 58.38/10.38 6.21
The next price announcement is scheduled for May 28, 2002, at 3:00 P.M.
eastern time.
Further program information is available from Tom Tice, (202) 720-2891,
E-mail address Tom_Tice@wdc.usda.gov.
Note: Farm Service Agency (FSA) news releases and media advisories are
available on the World wide Web at FSA's Home Page: http://www.fsa.usda.gov
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