Gins applying for $100 million cottonseed program

USDA will base individual payments on the estimated quantity of cottonseed produced from the bales and lint weight reported on the application. Payments are being made to gins because they usually retain proceeds from the sale of the cottonseed. However, gins may be required to share payments with cottonseed farmers in cases where farmers have been affected been low cottonseed prices.

USDA has mailed applications to 1,004 cotton gins. Gins that have not received an application form by April 30, 2001, can call (202) 720-8481 for an application to be faxed or mailed.

Applications must be returned by May 18, 2001. Ginners who have submitted an original signature to FSA's Price Support Division in Washington may send their application by FAX to (202) 720-9069. Companies that operated more than one gin for the 2000 crop should submit one application for all gin locations.

About two weeks after the last application is received, USDA's Commodity Credit Corporation will make payments by direct deposit and mail deposit notifications to gins.

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