Low sugar prices cut into Crystal farmer payments

MOORHEAD, Minn. (AP) — Low sugar prices are cutting into payments to farmers at American Crystal Sugar Co.

The Moorhead-based cooperative is telling its growers to expect a “massive reduction” in payments for this year’s beet crop.

In a company blog, American Crystal CEO David Berg says growers will be paid just $38 per ton. Last year, Crystal’s farmers were paid more than $68 per ton.

KFGO-AM (http://bit.ly/1b7G9kT ) reports Berg says most of Crystal’s growers will lose money, and in many cases, “they will lose a lot of money.”

The company says the reduced payments are mainly due to lower sugar prices, but also reflect much lower sugar content in this year’s crop.

blog comments powered by Disqus