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TeachMeFinance.com - explain Forfeiture penalty (sugar) Forfeiture penalty (sugar) The term 'Forfeiture penalty (sugar) ' as it applies to the area of agriculture can be defined as ' A penalty paid to the Commodity Credit Corporation by a processor of sugar beets or sugarcane who, having taken out a nonrecourse loan, decides to hand over sugar pledged as collateral to the CCC rather than accept the then-market price (see loan forfeiture). The penalty is 1 cent/lb. on raw cane sugar, 1.072 cents/lb. on refined beet sugar. Some view this penalty as lowering the price support levels authorized by the FAIR Act of 1996 by the penalty amount (i.e., for raw cane sugar, from 18 cents/lb. to 17 cents/lb.)'. Previous 5 Terms: forester Forestland forestry Forestry Incentive Program (FIP) Forestry Incentives Program (F.I.P.) Next 5 Terms: fork Format Formation formic formicine About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.