A bill to amend the Agricultural Market Transition Act to convert the price support program for sugarcane and sugar beets into a system of solely recourse loans to provide for the gradual elimination of the program.

Amends the Agricultural Market Transition Act with respect to the sugar program to: (1) reduce sugarcane loan rates through crop year 2002; (2) revise the sugar beet loan rate; (3) eliminate nonrecourse loans; and (4) eliminate sugar price supports after crop year 2002.

Amends the Agricultural Adjustment Act of 1938 to repeal sugar and crystalline fructose marketing quota and allotment provisions.

Amends the Food Security Act of 1985, beginning after the 1998- 1999 quota year, to direct the President to use all available authority to ensure that U.S. market raw sugar shall be available at not more than the higher of the world sugar price or the U.S. loan rate.