UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 10-Q/A



(Mark One)
 X   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
----
ACT OF 1934
For the quarterly period ended March 24, 2001
                               --------------

                                       OR

     TRANSITION  REPORT  PURSUANT  TO  SECTION  13  OR  15(d) OF  THE SECURITIES
----
EXCHANGE ACT OF 1934
For the transition period from                 to
                               ---------------    -----------------

Commission file number 2-22791
                       -------


                                   AGWAY INC.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


DELAWARE                                                              15-0277720
--------------------------------------------------------------------------------
(State or other jurisdiction of                                 (I.R.S. Employer
incorporation or organization)                               Identification No.)


333 Butternut Drive, DeWitt, New York                                      13214
--------------------------------------------------------------------------------
(Address of principal executive offices)                              (Zip Code)


                                  315-449-6431
--------------------------------------------------------------------------------
              (Registrant's telephone number, including area code)




Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.
Yes   X    No
    -----     -----

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date.



        Class                                       Outstanding at May 4, 2001
-------------------------                           --------------------------
Membership Common Stock,                                    97,862 shares
$25 par value per share

<PAGE>

                    AGWAY INC. AND CONSOLIDATED SUBSIDIARIES

                                      INDEX

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PART II.   OTHER INFORMATION
--------   -----------------

           Item 6.  Exhibits and Reports on Form 8-K.............................................................  3

           SIGNATURES............................................................................................  3


</TABLE>

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<PAGE>



                           PART II. OTHER INFORMATION
                    AGWAY INC. AND CONSOLIDATED SUBSIDIARIES
                             (Thousands of Dollars)


Item 6.  Exhibits and Reports on Form 8-K
-----------------------------------------


Exhibit 10.  Material Contracts
-------------------------------
a.     Credit Agreement
b.     Security Agreement
c.     Pledge Agreement
d.     Intellectual Property Security Agreement




SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.




                                                    AGWAY INC.
                                                   (Registrant)





Date     May 9, 2001                            /s/ PETER J. O'NEILL
      -----------------                -----------------------------------------
                                                   Peter J. O'Neill
                                                 Senior Vice President,
                                                    Finance & Control,
                                           (Principal Financial Officer and
                                                Chief Accounting Officer)










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