Jeff Miller: “There has been a change since the program was approved back in 1996. In 1996, we were told no net cost, and there was…”

“There has been a change since the program was approved back in 1996. In 1996, we were told no net cost, and there was going to be this assessment of about $40 million a year that would flow into the Government. First of all, that assessment has been done away with in an appropriation bill, I think, 2 years ago. The other thing is that because we are trying to keep that price high enough, we are having to buy sugar. Last month, in May, for the very first time since 1985, we bought $54 million worth of sugar in order to prop up the price, and we have no use for that sugar. And according to media reports, between now and the end of September, we could buy another $500 million worth of sugar. That is where it is going to start costing us money. We have $54 million worth of sugar now, and we have nothing to do but to put it in storage. No one will take it around the world. So things have changed in the past 45 days.”