Page:United States Statutes at Large Volume 62 Part 1.djvu/1282

 PUBLIC LAWS-CH. 827-JULY 3, 1948 "Total supply," to- bacco. 52 Stat. 43 . 7U. .C.§1302. Price support op- erations through Com- modity Credit Cor- poration. Availability of sup- port operations. " Supply percent- age." Support level for cooperators. marketing year shall be the carry-over of the commodity for such marketing year, plus the estimated production of the commodity in the United States during the calendar year in which such marketing year begins and the estimated imports of the commodity into the United States during such marketing year. "(B) 'Total supply' of tobacco for any marketing year shall be the carry-over at the beginning of such marketing year plus the estimated production thereof in the United States during the calendar year in which such marketing year begins, except that the estimated pro- duction of type-46 tobacco during the marketing year with respect to which the determination is being made shall be used in lieu of the estimated production of such type during the calendar year in which such marketing year begins in determining the total supply of cigar filler and cigar binder tobacco." PRICE SUPPORT SEC. 202. (a) Section 302 of the Agricultural Adjustment Act of 1938, as amended, is amended to read as follows: "SEc. 302. (a) The Secretary, through the Commodity Credit Corpo- ration (except as provided in subsection (c)) and other means avail- able to him, is authorized to support prices of agricultural commodities to producers through loans, purchases, payments, and other operations. Except as otherwise provided in this section, the amounts, terms, and conditions of such price support operations, and the extent to which such operations are carried out, shall, in the case of operations carried out by Commodity Credit Corporation, be determined by the Corpo- ration with the approval and subject to the direction of the Secretary, and, in the case of operations carried out by other means, be determined by the Secretary. In making such determinations, consideration shall be given to (1) the supply of the commodity in relation to the demand therefor, (2) the price levels at which other commodities are being supported, (3) the availability of funds, (4) the perishability of the commodity, (5) its importance to agriculture and the national economy, (6) the ability to dispose of stocks acquired through a price support operation, (7) the need for offsetting temporary losses of export markets, and (8) the ability and willingness of producers to keep supplies in line with demand. Compliance by the producer with acreage allotments, production goals, and marketing practices pre- scribed by the Secretary may be required as a condition of eligibility for price support. The Secretary shall in all cases give consideration to the practicability of supporting prices indirectly, as by the develop- ment of improved merchandising methods, rather than directly by purchase or loan. "(b) (1) Price support shall be made available to producers of any basic agricultural commodity at levels determined as hereinafter pro- vided in this subsection. On the basis of the latest available statistics of the Department of Agriculture as of the beginning of each market- ing year for each such basic agricultural commodity, the Secretary shall, with respect to such marketing year and such basic agricultural commodity- "(i) estimate the total supply; "(ii) determine the normal supply; and "(iii) determine the percentage which the estimated total sup- ply is of the normal supply (such percentage being referred to herein as the 'supply percentage'). "(2) The level at which the price of such basic agricultural com- modity for such marketing year shall be supported for cooperators (other than cooperators outside the commercial corn-producing area, in the case of corn) shall not exceed 90 per centum of the parity price of such commodity as of the beginning of the marketing year or be less 1252 [62 STAT.

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