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U.S. Sugar Program
The U.S. Sugar program is the federal commodity support program that maintains a minimum price for sugar, authorized by the 2002 farm bill (P.L. 107–171, Sec. 1401–1403) to cover the 2002-2007 crops of sugar beets and sugarcane. Designed to protect the incomes of the sugar industry-growers of sugarcane and sugar beets, and firms that process each crop into sugar - the program supports domestic sugar prices by: :(1) making available nonrecourse loans to processors (not less than 18¢/lb. for raw cane sugar, or 22.9¢/lb. for refined beet sugar); :(2) restricting sugar imports using a tariff rate quota, and :(3) limiting the amount of sugar that processors can sell domestically (under marketing allotments) when imports are below 1.532 million short tons. Import restrictions are intended to meet U.S. commitments under the North American Free Trade Agreement (NAFTA) and Uruguay Round Agreement on Agriculture. Processor and refiner marketing allotments are set by USDA according ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity
In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price. Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemical substance, chemicals and computer memory. Popular commodities include Petroleum, crude oil, Maize, corn, and gold. Other definitions of commodity include something useful or valued and an alternative ter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minimum Price
A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, good, commodity, or service. A price floor must be higher than the equilibrium price in order to be effective. The equilibrium price, commonly called the "market price", is the price where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change, often described as the point at which quantity demanded and quantity supplied are equal (in a perfectly competitive market). Governments use price floors to keep certain prices from going too low. Two common price floors are minimum wage laws and supply management in Canadian agriculture. Other price floors include regulated US airfares prior to 1978 and minimum price per-drink laws for alcohol. While price floors are often imposed by governments, there are also price floors which are implemented by non-governmental org ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sugar
Sugar is the generic name for sweet-tasting, soluble carbohydrates, many of which are used in food. Simple sugars, also called monosaccharides, include glucose, fructose, and galactose. Compound sugars, also called disaccharides or double sugars, are molecules made of two bonded monosaccharides; common examples are sucrose (glucose + fructose), lactose (glucose + galactose), and maltose (two molecules of glucose). White sugar is a refined form of sucrose. In the body, compound sugars are hydrolysed into simple sugars. Longer chains of monosaccharides (>2) are not regarded as sugars, and are called oligosaccharides or polysaccharides. Starch is a glucose polymer found in plants, the most abundant source of energy in human food. Some other chemical substances, such as glycerol and sugar alcohols, may have a sweet taste, but are not classified as sugar. Sugars are found in the tissues of most plants. Honey and fruits are abundant natural sources of simple sugars. Suc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2002 Farm Bill
The Farm Security and Rural Investment Act of 2002, also known as the 2002 Farm Bill, includes ten titles, addressing a great variety of issues related to agriculture, ecology, energy, trade, and nutrition. This act has been superseded by the 2007 U.S. Farm Bill. The act directs approximately 16.5 billion dollars of funding toward agricultural subsidies each year. These subsidies have a dramatic effect on the production of grains, oilseeds, and upland cotton. The specialized nature of the farm bill, as well as the size and timing of the bill, made its passage highly contentious. Debated in the U.S. House of Representatives during the immediate aftermath of the September 11th attacks in 2001, the bill drew criticism from the White House and was nearly amended. The amendment, which failed by a close margin, was proposed by Rep. Ron Kind (D-WI) and would have shifted money away from grain subsidies to conservation measures. Public debate over the farm bill continued, and the Senat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sugar Beet
A sugar beet is a plant whose root contains a high concentration of sucrose and which is grown commercially for sugar production. In plant breeding, it is known as the Altissima cultivar group of the common beet (''Beta vulgaris''). Together with other beet cultivars, such as beetroot and chard, it belongs to the subspecies ''Beta vulgaris'' subsp. ''vulgaris.'' Its closest wild relative is the sea beet (''Beta vulgaris'' subsp. ''maritima''). Sugar beets are grown in climates that are too cold for sugar cane. The low sugar content of the beets makes growing them a marginal proposition unless prices are relatively high. In 2020, Russia, the United States, Germany, France and Turkey were the world's five largest sugar beet producers. In 2010–2011, Europe, and North America except Arctic territories failed to supply the overall domestic demand for sugar and were all net importers of sugar. The US harvested of sugar beets in 2008. In 2009, sugar beets accounted for 20% of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sugarcane
Sugarcane or sugar cane is a species of (often hybrid) tall, Perennial plant, perennial grass (in the genus ''Saccharum'', tribe Andropogoneae) that is used for sugar Sugar industry, production. The plants are 2–6 m (6–20 ft) tall with stout, jointed, fibrous stalks that are rich in sucrose, which accumulates in the Plant stem, stalk internodes. Sugarcanes belong to the grass family, Poaceae, an economically important flowering plant family that includes maize, wheat, rice, and sorghum, and many forage crops. It is native to the warm temperate and tropical regions of India, Southeast Asia, and New Guinea. The plant is also grown for biofuel production, especially in Brazil, as the canes can be used directly to produce ethyl alcohol (ethanol). Grown in tropical and subtropical regions, sugarcane is the world's largest crop by production quantity, totaling 1.9 billion tonnes in 2020, with Brazil accounting for 40% of the world total. Sugarcane accounts for 79% of sug ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sugar Industry Of The United States
The sugar industry of the United States produces sugarcane and sugar beets, operates sugar refineries, and produces and markets refined sugars, sugar-sweetened goods, and other products. The United States is among the world's largest sugar producers. Unlike most other sugar producing countries, the United States has both large and well-developed sugarcane and sugar beet industries. Refined sugarcane, processed sugar beet, and high-fructose corn syrup are all commonly used in the U.S. as added sugars to sweeten food and beverages. Historically, sugar production was important in the growth of slavery in Louisiana and in the U.S. annexation of Hawaii. The Sugar Association is the trade association for the sugar industry in the United States. Sugar marketing in the U.S. is supported by sugar producers and the producers of sweetened food and beverages. History Caribbean sugarcane already accounted for a large part of New York City trade by the 1720s. Louisiana Sugarcane ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nonrecourse Loan
Nonrecourse debt or a nonrecourse loan (sometimes hyphenated as non-recourse) is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. If the borrower defaults, the lender can seize and sell the collateral, but if the collateral sells for less than the debt, the lender cannot seek that deficiency balance from the borrower—its recovery is limited only to the value of the collateral. Thus, nonrecourse debt is typically limited to 50% or 60% loan-to-value ratios, so that the property itself provides "overcollateralization" of the loan. The incentives for the parties are at an intermediate position between those of a full recourse secured loan and a totally unsecured loan. While the borrower is in first loss position, the lender also assumes significant risk, so the lender must underwrite the loan with much more care than in a full recourse loan. This typically requires that the lender have sig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tariff Rate Quota
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. ''Protective tariffs'' are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade. Tariffs can be fixed (a constant sum per unit of imported goods or a percentage of the price) or variable (the amount varies according to the price). Taxing imports means people are less likely to buy them as they become more expensive. The intention is that they buy local products instead, boosting their country's economy. Tariffs therefore provide an incentive to develop production and replace imports with domestic products. Tariffs are meant to reduce pressure from foreign competition and reduce the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Import Restrictions
Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. Proponents argue that protectionist policies shield the producers, businesses, and workers of the import-competing sector in the country from foreign competitors. Opponents argue that protectionist policies reduce trade and adversely affect consumers in general (by raising the cost of imported goods) as well as the producers and workers in export sectors, both in the country implementing protectionist policies and in the countries protected against. Protectionism is advocated mainly by parties that hold economic nationalist or left-wing positions, while economically right-wing political parties generally support free trade. There is a consensus among economists that protectionism has a negative effect on economic growth and economic w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North American Free Trade Agreement
The North American Free Trade Agreement (NAFTA ; es, Tratado de Libre Comercio de América del Norte, TLCAN; french: Accord de libre-échange nord-américain, ALÉNA) was an agreement signed by Canada, Mexico, and the United States that created a trilateral trade bloc in North America. The agreement came into force on January 1, 1994, and superseded the 1988 Canada–United States Free Trade Agreement between the United States and Canada. The NAFTA trade bloc formed one of the largest trade blocs in the world by gross domestic product. The impetus for a North American free trade zone began with U.S. president Ronald Reagan, who made the idea part of his 1980 presidential campaign. After the signing of the Canada–United States Free Trade Agreement in 1988, the administrations of U.S. president George H. W. Bush, Mexican President Carlos Salinas de Gortari, and Canadian prime minister Brian Mulroney agreed to negotiate what became NAFTA. Each submitted the agreement for r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uruguay Round Agreement On Agriculture
The Agreement on Agriculture (AoA) is an international treaty of the World Trade Organization. It was negotiated during the Uruguay Round of the General Agreement on Tariffs and Trade, and entered into force with the establishment of the WTO on January 1, 1995. History Origins The idea of replacing agricultural price support with direct payments to farmers decoupled from production dates back to the late 1950s, when the twelfth session of the GATT Contracting Parties selected a Panel of Experts chaired by Gottfried Haberler to examine the effect of agricultural protectionism, fluctuating commodity prices and the failure of export earnings to keep pace with import demand in developing countries. The 1958 Haberler Report stressed the importance of minimising the effect of agriculture subsidies on competitiveness and recommended replacing price support with direct supplementary payments not linked with production, anticipating discussion on green box subsidies. Only more recently, t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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