Buyout of farm programs a future policy option?

Brandon, Hembree
March 2005
Southeast Farm Press;3/23/2005, Vol. 32 Issue 9, p36
Trade Publication
This article reports that David Orden, senior research fellow at the International Food Policy Research Institute, says discussions of the next farm bill should include consideration of a buyout of the main U.S. farm support subsidies of fixed direct and counter-cyclical payments. The policy option, he said at the USDA Agricultural Outlook Forum 2005 at Arlington, could allow the government to reduce the long run cost of subsidies and facilitate the liberalization of agricultural trade, while providing substantial transition support to farmers. The 2002 restructuring of the peanut program included a buyout of production quota rights, together with new direct and counter-cyclical payments, and the 2004 tobacco buyout ended quotas and eliminated the loan rate program, without implementing new payment mechanisms.


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