Price Support Programs
Price support programs are government initiatives designed to stabilize the income of farmers by ensuring that the prices of certain agricultural products do not fall below a specific level. These programs often involve the government purchasing surplus crops or providing financial assistance to farmers, helping them maintain a steady income even during periods of low market prices.
These programs can benefit both producers and consumers. For farmers, they provide a safety net against price fluctuations, while for consumers, they can help ensure a consistent supply of essential goods. Examples of such programs include those for corn, wheat, and soybeans.