Free Market Sugar Act - Amends the Federal Agriculture Improvement and Reform Act of 1996 to repeal the sugar loan program.
Amends the Farm Security and Rural Investment Act of 2002 to repeal the feedstock flexibility program for bioenergy producers.
Amends the Agricultural Adjustment Act of 1938 to repeal sugar marketing allotment provisions.
Replaces sugar quota import shortfall provisions with a provision requiring the Secretary of Agriculture (USDA) to establish the tariff-rate quotas for raw cane sugar and refined sugars for a quota year at the level necessary to ensure: (1) a competitive U.S. sugar processing industry, and (2) an adequate and reasonably-priced sugar supply in the United States. Exempts specialty sugar from such provision.
Amends the Agricultural Act of 1949 to repeal the sugar price support program.