State board to consider emergency relief for beet growers March 30

WORLAND – Due to heavy rain last fall when sugar beet growers were trying to harvest their crops and the frosty conditions of late December, the Wyoming Sugar Company is requesting an economic emergency declaration and $5,675,650 in loans from the Wyoming Business Council board of directors. A special call-in meeting is to be held at 10 a.m. on Thursday, March 30.

"The loans would be for the Wyoming Sugar Company growers. With all the rain in the fall, the beets came in muddy. They were processing OK but when we hit the extreme cold weather towards the 20th of December it started causing real ups and downs in the processing within the factory and so our extraction rate went way down from where we were at and that affected the beet payment. It had a negative effect on what the growers received for their crop," Wyoming Sugar Executive Vice President Mike Greear said. "This disaster loan program, that's available, is there to help our growers to be able to absorb the reduction in the payment and give them some relief," he added.

According to the press release, "Wyoming Sugar is owned by 38 growers representing about 60 families in Fremont, Big Horn, Park and Washakie counties. If the board designates a disaster area, each beet producer would need to complete a loan application by May 15, 2017. Staff will analyze each loan for sufficient collateral and cash flow. The 10-year loans will include 3.5 percent in annual interest."

While Wyoming Sugar's situation did not qualify for emergency funding from the United States Department of Agriculture or the Farm Service Agency, Greear believes that there is a good chance that the economic emergency declaration and loans will occur. He stated that he has laid the ground work, provided all information needed, documented everything for every grower and worked with the Wyoming Business Council on how it was lined out. "The folks at the business council are recommending it, but it's up to the board," he said.

The public is encouraged to listen to the meeting by visiting https://global.gotomeeting.com/join/263667805 or call 1-855-459-2716.

For more information, call Communications Director Ron Gullberg at 307-777-2833.