Mon Dec 16, 2013 06:15 AM CST

NEW YORK (Dow Jones) -- The U.S. Department of Agriculture sold the last of its sugar inventory to domestic ethanol makers, bringing down the total cost of last season's sugar program to about $259.1 million.

The USDA had received the sugar after processors defaulted on federal government loans at the end of September.

The sale was the fourth this year under a program outlined in the 2008 farm bill that aims to boost prices for the sweetener.

The program requires the USDA to buy sugar and sell it to domestic biofuel producers if it believes sugar processors might default on ...

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