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USDA Sets March Interest Rates

WASHINGTON - Mar 3/08 - SNS -- The USDA's Commodity Credit Corporation (CCC) today announced interest rates for March 2008.

The CCC borrowing rate-based charge is 2.125% for March 2008, down from 3.125% in February 2008. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during March 2008 is 3.125%, down from 4.125% in February 2008.

The interest rate for farm storage facility loans approved for March 2008 is 3.125%, down from 3.500% in February 2008. The interest rate for sugar storage facility loans for March 2008 is 4.250%, down from 4.375% in February 2008.

The maximum discount rate applicable for March 2008 for the Tobacco Transition Payment Program is 8.0%, unchanged from February 2008. This is based on the 6.0 prime rate plus 2%, rounded to the nearest whole number.

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