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Price Support of Agricultural Commodities (7 USC Ch. 35A)

Country/Territory
United States of America
Document type
Legislation
Date
2020
Source
FAO, FAOLEX
Subject
Agricultural & rural development, Livestock
Keyword
Agricultural commodities Internal trade Subsidy/incentive Financial agricultural measures Agricultural development Farming Cooperative/producer organization Animal feed/feedstuffs
Geographical area
Americas, Arctic, East Pacific, North America, North Atlantic
Abstract

This chapter provides for price support of agricultural commodities. Specifically, it states that the Secretary shall provide the price support authorized or required herein through the Commodity Credit Corporation and other means available to him. Except as otherwise provided in this Act, the amounts, terms, and conditions of price support operations and the extent to which such operations are carried out, shall be determined or approved by the Secretary. The following factors shall be taken into consideration in determining, in the case of any commodity for which price support is discretionary, whether a price-support operation shall be undertaken and the level of such support and, in the case of any commodity for which price support is mandatory, the level of support in excess of the minimum level prescribed for such commodity: (1) the supply of the commodity in relation to the demand therefor, (2) the price levels at which other commodities are being supported and, in the case of feed grains, the feed values of such grains in relation to corn, (3)the availability of funds, (4) the perishability of the commodity, (5) the importance of the commodity to agriculture and the national economy, (6) the ability to dispose of stocks acquired through a price-support operation, (7) the need for offsetting temporary losses of export markets, (8) the ability and willingness of producers to keep supplies in line with demand and (9), in the case of upland cotton, changes in the cost of producing such cotton. The level of price support for any commodity shall be determined upon the basis of its parity price as of the beginning of the marketing year or season in the case of any commodity marketed on a marketing year or season basis and as of January 1 in the case of any other commodity.

Full text
English
Website
uscode.house.gov