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Posted on  

October 12, 2001

CCC sells refined sugar for ethanol production

The Commodity Credit Corp (CCC) said on Thursday that it sold a total of 2.4 million pounds of U.S. government-owned surplus refined sugar at tender to Alchem Ltd LLP for use in ethanol production.

The sugar is located in Minnesota warehouses. CCC did not disclose the sale price.

On October 1, CCC had offered to sell a total of 90,902 short tons (181.8 million pounds) under the tender, which is part of the government's efforts to boost ethanol production as well as reduce government sugar stocks.

On Thursday, the CCC also said that it had cancelled a separate selling tender of 48,500 tons (97 million pounds) of refined sugar for unrestricted use.

CCC said it had rejected all offers made at the tender. 


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