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

While this was seen as a huge victory for farmers, they had withdrawn from the strike only after the government made other promises including setting up of a committee to look into implementation of minimum support price for all crops.

From BBC

The farmers say guaranteed minimum support price for all 23 crops would stabilize their income.

From Seattle Times

The government had proposed buying pulses, maize and cotton at guaranteed floor prices - also known as Minimum Support Price or MSP - through cooperatives for five years.

From BBC

But their most important demand is a law guaranteeing a support price for crops.

From BBC

The farmers say a guaranteed minimum support price for their crops would stabilize their incomes.

From Seattle Times