MOORHEAD, Minn. (AP) — Low sugar prices are cutting into payments to farmers at American Crystal Sugar Co.

The Moorhead-based cooperative is telling its growers to expect a “massive reduction” in payments for this year’s beet crop.

READ MORE: Brother Fatally Shoots Sister Inside Chanhassen Home

In a company blog, American Crystal CEO David Berg says growers will be paid just $38 per ton. Last year, Crystal’s farmers were paid more than $68 per ton.

READ MORE: Missing Person: Douglas Paul Schroeder

KFGO-AM reports Berg says most of Crystal’s growers will lose money, and in many cases, “they will lose a lot of money.”

The company says the reduced payments are mainly due to lower sugar prices, but also reflect much lower sugar content in this year’s crop.

MORE NEWS: Mayor Frey Speaks With North Minneapolis Community Members Saying They're Fed Up With Recent Surge Of Gun Violence

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)