Definition of support price in English:

support price


  • A minimum price guaranteed to a farmer for agricultural produce and maintained by subsidy or the buying in of surplus stock.

    • ‘The government procures rice and wheat at minimum support prices, which are often higher than international prices.’
    • ‘The ASCUs are then reimbursed by the Treasury for any loss related to the difference between the support price and the sales price.’
    • ‘A rethink on minimum support prices was also on the cards.’
    • ‘These support cuts amounted to a 7% reduction in butter support prices and a 5% reduction in the support price for skim milk powder.’
    • ‘The entry prices also serve as support prices for the major crops.’
    • ‘The administration has no plans to impose a milk tax or cut support prices in any year.’
    • ‘Second, the state established institutions to set support prices.’
    • ‘Tipton notes that some dairy groups and the federal government have advocated a very high support price for nonfat dry milk over the past couple of years, which has had a primary role in the growth of MPC imports.’
    • ‘Government's intervention is needed to save them by fixing a support price for vanilla as done in the case of coconut and rubber.’
    • ‘The Union government has raised the minimum support price for the 1999-2000 wheat crop to Rs 580 per quintal from Rs 550 earlier, according to an agriculture ministry statement.’
    • ‘The support price for nonfat dry milk remains the same at 60.6 cents.’
    • ‘The principle on which it rests is that of encouraging production by providing support prices for agricultural production of various sorts.’
    • ‘Indeed, for wheat the support price is now lower than the wholesale price; the support price thus acts as a floor.’
    • ‘In the countryside, the rural exodus gathered pace when reforms to the CAP in 1984 and 1992 cut support prices and closed down the least profitable and most indebted farms.’
    • ‘Additionally, the reforms do not lower European support prices for grain, known under CAP as intervention prices.’
    • ‘The bill stressed supporting farm income with the cash payments unrelated to what farmers grew, rather than having government support prices by purchasing surplus crops.’
    • ‘It means that we do not have to increase product or support prices.’
    • ‘It benefits directly from the exaggerated support prices the government shells out for this ‘health food.’’
    • ‘For now, the support price program provides an effective floor of about $1.10 for cheddar blocks.’
    • ‘The accumulation of stocks results from the government's commitment to unrealistically high minimum support prices of food grains - of wheat and rice in particular.’