PIK Signup Period Continues

Published online: Aug 28, 2000
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Growers can signup for PIK program Aug. 21 through Sept. 1.

Growers have five more days to signup for the USDA's Sugar Payment-In-Kind program. The signup period began Aug. 21 and will end Sept. 1.

The program is structured so producers can work with processors who, in turn, work with the USDA's Commodity Credit Corporation.

The program offers growers the choice of diverting a portion of their crop from production in exchange for sugar held by the CCC from previous purchases amounting to 174,000 tons. But farmers are limited to $20,000 in PIK payments or about 15 acres. Growers will be notified of bid acceptance in early September.

Upon acceptance, growers will notify the Farm Service Agency which acreage they will remove.