Business / Agriculture Glossary

Adjusted Gross Revenue (AGR) Pilot Program: A pilot revenue insurance program first implemented in 1999 by USDA on a limited basis. It allows farmers to receive a guarantee of a percentage of their revenue for multiple commodities, in . . . View Full Definition

Adjusted World Price: As part of the upland cotton and the rice marketing assistance loan programs, USDA calculates and publishes, on a weekly basis, what is known as the adjusted world price (AWP). The AWP is th . . . View Full Definition

Adjusted World Price (AWP): As part of the upland cotton marketing assistance loan program, USDA calculates and publishes, on a weekly basis, what is known as the adjusted world price (AWP). The AWP is the prevailing w . . . View Full Definition

Administrative Convergence: USDA in 1998 was developing a plan to consolidate the administrative functions (e.g., accounting, budgeting, procurement, personnel) of its field service agencies at the state level under on . . . View Full Definition

Administrative Procedure Act: P.L. 79-404 (July 11, 1946), as amended, establishes, among other things, minimum procedural requirements or models for federal agency rulemaking and certain types of hearings. For instance, . . . View Full Definition

Adulterated Food: Generally, impure, unsafe, or unwholesome: however, the Federal Food, Drug, and Cosmetic Act, the Federal Meat Inspection Act, and the Poultry Products Inspection Act contain separate langua . . . View Full Definition

Advance Deficiency Payments: Initial payments (ranging from 30 to 50% of the total payment) made to crop producers when they signed up for federal commodity programs. If the total deficiency payment was eventually calcu . . . View Full Definition

Advisory Committee For Trade Policy And Negotiations (ACTPN): A 45-member group appointed by the President to provide advice on matters of trade policy and related issues, including trade agreements. The 1974 Trade Act requires the ACTPN’s establishmen . . . View Full Definition

Aflatoxin: Aflatoxin is a naturally occurring mycotoxin produced by two types of mold: aspergillus flavus and aspergillus parasiticus. Aspergillus flavus is common and widespread in nature and is most . . . View Full Definition

Agency For International Development (AID Or USAID): An independent agency of the executive branch, established in 1961, that administers U.S. international development and humanitarian assistance programs. The activities often involve joint e . . . View Full Definition

Aggregate Measure Of Support (AMS): An indicator of the amount of domestic support for agriculture. As used in the Uruguay Round Agreement on Agriculture, the AMS refers to a measure of the gap between domestic and world price . . . View Full Definition

Agreement On Agriculture: The Uruguay Round Agreement on Agriculture reached in 1994 and implemented in U.S. law by the Uruguay Round Agreements Act of 1994 brings agricultural trade more fully under international tr . . . View Full Definition

Agribusiness: Agriculturally related businesses that supply farm inputs (such as fertilizer or equipment) or are involved in the marketing of farm products (such as warehouses, processors, wholesalers, tr . . . View Full Definition

Agricultural Act Of 1949: P.L. 89-439 (October 31, 1949), along with the Agricultural Adjustment Act of 1938, makes up the major part of the permanent law that mandates commodity price and farm income support. The or . . . View Full Definition

Agricultural Act Of 1954: P.L. 83-690 (August 28, 1954) established a flexible price support for basic commodities (excluding tobacco) at 82.5-90% of parity and authorized a Commodity Credit Corporation reserve for f . . . View Full Definition

Agricultural Act Of 1956: P.L. 84-540 (May 28, 1956) created the Soil Bank Program (Title I of was called the Soil Bank Act), addressedthe disposal of CCC inventories of surplus stocks, contained commodity support pr . . . View Full Definition

Agricultural Act Of 1970: P.L. 91-524 (November 30, 1970) initiated a significant change in commodity support policy. This 3-year farm bill replaced some of the more restrictive and mandatory features of acreage allo . . . View Full Definition

Agricultural Adjustment Act (AAA) Of 1933: P.L. 73-10 (May 12, 1933) was the New Deal initiative to assist the farm sector during the Great Depression. This was the first comprehensive effort to raise and stabilize farm prices and in . . . View Full Definition

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