Commodity Programs: Impact of Support Provisions on Selected Commodity Prices

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DIANE Publishing, Jun 1, 1997 - 52 pages
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Addresses questions that are concerned with how remaining support provisions affect U.S. commodity prices in comparison with world prices: (1) Do marketing loan provisions prevent loan rates from acting as price floors and do they allow U.S. prices to fall to levels that are closer to world prices? (2) What effect would lower loan rates have on the relationship between U.S. and world prices? (3) How would a lower loan rate affect step 2 payments for cotton exports and what impact have recent changes in the timing of payments had on the program's effectiveness? (4) What steps could make the peanut and sugar programs more market-oriented?
 

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Page 12 - Program: Changes Are Needed to Make the Program Responsive to Market Forces (GAO/RCED-93-18, Feb. 8, 1993) relates to additional areas of GAO concern.
Page 1 - The Honorable John R. Kasich Chairman, Committee on the Budget House of Representatives Dear Mr. Chairman...
Page 23 - Director, Office of Management and Budget; and other interested parties. We will also make copies available to others upon request.
Page 23 - August 1996 in accordance with generally accepted government auditing standards. A detailed discussion of our scope and methodology...
Page 3 - Sugar Program: Changing Domestic and International Conditions Require Program Changes (GAO/RCED-93-84, Apr. 16, 1993) relates to additional areas of GAO concern.
Page 13 - ... Congress in 1934 to institute a program to control the domestic supply of peanuts and protect producers' incomes. Although the peanut program has been amended several times, the program continues to control the domestic supply — now, through a national poundage quota system and restrictions on imports. Generally, only producers holding a portion of the assigned quota may sell their peanuts domestically (as quota peanuts), while producers without quota must export theirs (as additional peanuts)....
Page 13 - buy-back," additional peanuts, which are usually exported or crushed for oil and meal at prices lower than the quota support price, can be purchased for use in the domestic market if US prices start to rise significantly.
Page 15 - Under the 1996 farm act, the peanut quota support price was reduced from $678 to $610 per ton and fixed through the year 2002 — the remainder of the life of the farm act.

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