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support price

the price at which the government will purchase commodities, especially farm produce, in order to maintain a certain price level.
Origin of support price
1940-45 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for support price
  • It pays a legislated milk support price plus an allowance toward the manufacturing costs of these products.
  • Peanuts sold within a producer's quota qualify for a higher support price than peanuts sold outside the quota.
  • Even though raising the support price appears to help producers now, however it is not a good long-term solution.
  • By undercutting the domestic support price, imports would have sharply reduced the share available to quota producers.
  • The policy did not distinguish among different varieties of rice and offered the same support price for all varieties.

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