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Honey Loan Payment Rate Set
WASHINGTON - Mar 31/03 - SNS -- The alternative payment rate for honey during April will be U.S. $1.36 per pound under the loan program administered by the USDA's Commodity Credit Corporation (CCC).
The loan repayment rate for nonrecourse marketing assistance loans is the lower of principal plus interest or the alternative repayment rate. Since the alternative repayment rate is higher than principal plus interest, there will be no loan deficiency payment or marketing loan gain for April 2003.
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