Business / Agriculture / Nonbasic Commodities
Nonbasic Commodities: Commodities other than basic commodities for which USDA is authorized to provide price support in permanent law. This includes soybeans and other oilseeds, milk, sugar beets, and sugarcane.
Perishable Agricultural Commodities Act (PACA) Of 1930: P.L. 71-325 (June 10, 1930), as amended, regulates the buying and selling of fresh and frozen fruits and vegetables to prevent unfair trading practices and to assure that sellers will be pai . . . View Full Definition
Perishable Commodities: Farm goods that prior to processing cannot be stored for a substantial period of time without excessive loss through deterioration or spoilage. Examples of perishable commodities are fresh f . . . View Full Definition
Regulated Commodities: The group of registered commodity futures and options contracts traded on organized U.S. futures exchanges.
Securities And Commodities Exchanges: Exchanges on which securities, options, and futures contracts are traded by members for their own accounts and for the accounts of customers.
Bonus Commodities: From the agricultural perspective, these are commodities donated to domestic feeding programs that USDA acquires for unexpected surplus removal reasons or because Commodity Credit Corporatio . . . View Full Definition
Basic Commodities: Six agricultural crops (corn, cotton, peanuts, rice, tobacco, and wheat) declared by permanent law as requiring federal price support.
Bulk Commodities: Generally, high volume, low value unprocessed agricultural commodities, which are treated as though they are homogeneous (fungible) in nature prior to processing. Grains, oilseeds, and cotto . . . View Full Definition
Kuala Lumpur Commodities Exchange (KLCE): The Malaysian commodity exchange for trading futures in crude palm oil, crude palm kernel oil, tin, rubber, and cocoa.
Cash In Lieu Of Commodities: Refers to cash provided to food program operators (e.g., elderly nutrition programs, child care food programs, and some school food programs) in lieu of mandated commodity assistance. Recipi . . . View Full Definition