support price

American  

noun

1. the price at which the government will purchase commodities, especially farm produce, in order to maintain a certain price level.

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Etymology

Origin of support price

First recorded in 1940–45

Example Sentences

A sustained disruption to shipping through Hormuz would further tighten regional supply and support price premiums, particularly given relatively lean inventories, analysts at the firm said.

From The Wall Street Journal • Apr. 13, 2026

The moves came after a Thursday report from Reuters suggesting that the federal government wouldn’t support price floors for critical minerals—a reversal from prior policy.

From Barron's • Jan. 29, 2026

But increasing cultivation costs and rising debts have led them to overproduce rice and wheat, crops for which they get a minimum support price, or MSP.

From Seattle Times • Feb. 16, 2024

This time, the farmers’ central demand concerns something called the minimum support price, or M.S.P.

From New York Times • Feb. 14, 2024

Farmers are asking for assured floor prices - also known as minimum support price or MSP - which allows them to sell a majority of their produce at government-controlled wholesale markets or mandis.

From BBC • Feb. 12, 2024