The Craig interpolation property is investigated for substructural logics whose algebraic semantics are varieties of semilinear pointed commutative residuated lattices. It is shown that Craig interpolation fails for certain classes of these logics with weakening if the corresponding algebras are not idempotent. A complete characterization is then given of axiomatic extensions of the “R-mingle with unit” logic that have the Craig interpolation property. This latter characterization is obtained using a model-theoretic quantifier elimination strategy to determine the varieties of Sugihara monoids (...) admitting the amalgamation property. (shrink)