Nearly 60 banks and Certified Public Accountants sent Congress a letter opposing the Sugar Farmer Bankruptcy Bill.
Sugar prices tanked when Mexico broke U.S. trade law and flooded the market with subsidized imports years ago. While that problem has been addressed, the aftereffects are still lingering.
America has had a sugar policy in some form since the country was founded. And Louisiana was the first place where the crop was planted – tracing its roots back more than 200 years.
Sugar is widely considered the world’s most volatile commodity market because of widespread subsidization. The Rutherfords, like other American sugarbeet and sugarcane farmers, rely on a U.S. sugar policy comprised of import limits and producer loans to cope.
ASA launches new campaign to show lawmakers what’s at stake for cane and beet farmers across the country as they debate the future of sugar.