Accession Number:

ADA370785

Title:

U.S. DEPARTMENT OF AGRICULTURE: Marketing Assistance Loan Program Should Better Reflect Market Conditions

Descriptive Note:

Corporate Author:

GENERAL ACCOUNTING OFFICE WASHINGTON DC RESOURCES COMMUNITY AND ECONOMIC DEVELOPMENT DIV

Personal Author(s):

Report Date:

1999-11-01

Pagination or Media Count:

24.0

Abstract:

The marketing assistance loan program is designed to provide producers of certain crops with interim financial assistance at harvest, when prices are usually lower than at other times of the year. By doing so, the program effectively guarantees a minimum price for those crops. For 1998 crops, the program provided 6.7 billion in loans. It also provided 3.7 billion in cash payments, as of September 22,1999, up from 162 million for 1997 crops. This jump in cash payments occurred because of substantial declines in crop prices payments are expected to grow to about 5.9 billion for 1999 crops.

Subject Categories:

  • Agricultural Economics

Distribution Statement:

APPROVED FOR PUBLIC RELEASE