USDA Sets 2011-12 Pulse Loan Rates

WASHINGTON - Mar 9/11 - SNS -- The USDA's Commodity Credit Corporation (CCC) set regional pulse crop loan rates for dry peas, lentils, small chickpeas, and large chickpeas for the 2011-12 marketing year.

Loan rates for the coming marketing year will not influence planting decisions by farmers in the United States because they are well below current and expected market values for peas, lentils and chickpeas.

Regional loan rates are established for dry peas, lentils and large chickpeas, but not for small chickpeas. Due to limited market price information from which to establish a 2011 regional loan rate for large chickpeas, the statutory loan rate will again be applicable in all states and counties.

The West region includes Alaska, Arizona, California, Hawaii, Idaho, Nevada, New Mexico, Oregon, Utah and Washington. The East region includes all other states.

       United States - 2011-12 Pulse Loan Rates
           (U.S. dollars per 100 pounds)
                  West         East     National
Dry Peas          6.57         5.13         5.40
Lentils          11.85        11.06        11.28
Large Chickpeas  11.28        11.28        11.28
Small Chickpeas   7.43         7.43         7.43