WASHINGTON – The U.S. Department of Agriculture's Commodity Credit Corporation (CCC) has announced regional pulse crop loan rates for the 2011 crop. Pulse crops include dry peas, lentils, small chickpeas, and large 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.
Regional loan rates for 2011 for pulse crops are ($/hundredweight):
Crop West Region East Region National Rate
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
The regional loan rates are established to reflect market price relationships and to average the national loan rate when weighted by their production. Discounts will apply to pulse crops grading lower than U.S. No. 2 and to all feed peas. The discounts will be posted to the Farm Service Agency's Price Support Web page at: http://www.fsa.usda.gov/Internet/FSA_File/2-lp-grain_r01_a24.pdf
source: USDA