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Explore the impact of farm program payments on the biofuel sector and implications for structural change in agriculture. Delve into the historical context, policy regimes, and key factors influencing the evolution of the industry. Gain insights into crop allotments, target price/deficiency payments, Commodity Credit Corporation, and more.
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Impact of Farm Program Payments on Biofuel Sector: Implications for Structural Change Charles B. Moss, Ashok K. Mishra, and Tyler Mark
Introduction • Coals to Newcastle – Review of agricultural policy regimes. • Before the Brennan Plan • Crop allotments • Post Brennan Plan • Target Price/Deficiency Payments • Commodity Credit Corporation • Program Base Acres • FAIR 1996 • AMTAPs or PFC • LDP • Reduced the linkage to base acres
FSRI • Maintained several features of the FAIR with respect to base acres • FCE • Continued the FSRI
p1y1+p2y2+p3y3-wx-l[f(y,x,a)] p1f(x1)a1+p2f(x2)a2+p3f(x3)a3-wx+m(aT-a1-a2-a3) (p1+t1)f(x1)a1+p2f(x2)a2+p3f(x3)a3-wx+m(aT-a1-a2-a3)+k(a1*-a1) [(p1+t1)f(x1)-w]=[p2f(x2)-w]=[p3f(x3)a3-w]=m a1*>a1