Dec 11, 2013 at 2:13 pm
WAHPETON, N.D. (AP) — Minn-Dak Farmers Cooperative growers will have a tough time making a profit on their 2013 sugar beet crop.
Co-op President and CEO Kurt Wickstrom says Minn-Dak's anticipated $40-per-ton payment for the 2013 crop is down sharply from the 2012 payment of about $75 a ton. He says that's largely the result of depressed domestic sugar prices caused by imports from Mexico.
Minn-Dak producers will receive about $100 million less than they did for the 2012 crop.
The other sugar beet co-op in the Red River Valley of eastern North Dakota and northwestern Minnesota is American Crystal Sugar. That co-op announced last week that it expects to pay growers about $38 per ton for the most recent crop, with total grower payments down more than $300 million.
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