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Chickpea Loan Rates Not Significant
WASHINGTON - Sep 4/02 - STAT -- Chickpea growers in the United States are unlikely to be persuaded to expand production of the crop judging from the current loan rate available for small caliber kabuli and desi chickpeas grown this year.
The USDA's small chickpea loan rate is $7.56 per cwt and applies only to chickpeas of a size that can drop through a 20/64 grading screen. This loan rate also will apply nationwide. Low-quality small chickpeas will be eligible for a nonrecourse loan at a reduced loan rate. Loan rate discounts per cwt for grades lower than grade No 1 are: $1.00 for grade No 2; $2.25 for grade No 3; and $3.50 for sample grade. All grades of small chickpeas will receive the same loan deficiency rate.
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