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1984

Current rice legislation has created a transition period where income support to rice producers continues to decline in real dollars, and payment limitations restrict efficient use of resources. The income support level was effectively frozen under the 1990 farm bill at $10.71 per cwt, which is $1.19 below 1984. Political realities are such that no future increase in income support is expected. Rice producers, therefore, are facing a future in which they will likely continue to depend more on the market and less on government income support. The 1985 farm bill increased emphasis on making U.S. agriculture more competitive in world markets through lower loan rates and implementation of the marketing loan program for rice. Target prices provided the basic income...

Posted by: Jason Pinsky

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