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Holders of certificates are permitted to exchange them for commodities owned by the CCC. Alternatively, farmers may buy certificates and use them to settle marketing assistance loans as a way of avoiding per person payment limits on marketing loan gains and loan deficiency payments (LDPs).
A 1947 legal case relating to the contracted supply of dried eggs to the Federal Surplus Commodities Corporation for aid to Russia in 1942 (Priebe & Sons, Inc. v. United States) held that a provision in the contract for "liquidated damages" to be paid for late inspection and certification of the product constituted an unenforceable penalty ...
CHS Inc. is a Fortune 500 secondary cooperative owned by United States agricultural cooperatives, farmers, ranchers, and thousands of preferred stock holders. Based in Inver Grove Heights, Minnesota, CHS owns and operates various food processing and wholesale, farm supply, financial services and retail businesses.
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These purchase prices are set high enough to enable dairy processors to pay farmers at least the support price for the milk they use in manufacturing these products. The 2002 farm bill (P.L. 107-171, Sec. 1501) mandated a support price of $9.90/cwt, effective through December 31, 2007, when the program by law was scheduled to expire.
Foundation stone of an APMC laid down in 1965 by K. S. Puttaswamy, erstwhile Minister of Mysore State. An Agricultural Produce Market Committee (APMC) is a marketing board established by state governments in India to ensure farmers are safeguarded from exploitation by large retailers, as well as ensuring the farm to retail price spread does not reach excessively high levels.
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