Department of Agriculture, Commodity Credit Corporation: Marketing Assistance Loans and Loan Deficiency Payments
GAO-09-892R, Jul 21, 2009
GAO reviewed Commodity Credit Corporation's (CCC) new rule on Marketing Assistnace Loans (MAL) and Loan Deficiency Payments (LDP). GAO found that (1) the final rule revises the regulations governing the MAL and LDP programs for wheat, feed grains soybeans, other oilseeds, peanuts, pulse crops, honey, wool, and mohair. Among the changes implemented is adding large chickpeas to the list of pulse crops eligible for assistance beginning in crop year 2009. This rule also provides separate rates for long and medium grain rice beginning in crop year 2008. Additionally, the rule allows producers to store collateral in warehouses without a CCC storage agreement if the warehouses are licensed by the federal government or a state; and (2) except for the failure to file the rule with our Office, CCC complied with the applicable requirements in promulgating the rule.