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USDA Sets Interest Rates
WASHINGTON - May 1/08 - SNS -- The USDA's Commodity Credit Corporation (CCC) today announced interest rates for May 2008. The CCC borrowing rate-based charge is 1.625%, unchanged from April 2008. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during May 2008 is 2.625%, unchanged from April 2008.
The interest rate for farm storage facility loans approved for May 2008 is 3.000%, unchanged from April 2008. The interest rate for sugar storage facility loans for May 2008 is 4.250%, unchanged from April 2008.
The maximum discount rate applicable for May 2008 for the Tobacco Transition Payment Program is 7%, unchanged from April 2008. This is based on the 5% prime rate plus 2%, rounded to the nearest whole number.
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