Definition of price support in English:

price support

noun

Economics
  • [mass noun] Government assistance in maintaining the levels of market prices regardless of supply or demand.

    [as modifier] ‘existing price support mechanisms ensure a minimum price for much farm produce’
    • ‘Wholesale butter, powder and cheese prices have been struggling all year to stay above price support levels.’
    • ‘Countering competition, they seek consolidation and price support interventions.’
    • ‘Current farm price support policy, as well as crop insurance concepts, seek to protect farmers in part from risk inherent to the market.’
    • ‘‘At current prices, cattle farmers are losing serious money and the minister will have to urgently deliver on his commitments on re-opening markets and effective intervention price support,’ he said.’
    • ‘Identifying oilseeds as another critical area, Mr Chidambaram said the government would facilitate farmers to diversify into oilseeds by promoting superior seed technology and through an appropriate policy of price support.’