Price policy has come to play an important role in determining the magnitude and direction of agricultural production in the present day economy of most of the countries of the world. Price regulation of agricultural production by the state has come to be accepted as a normal feature. Agriculture was once the classic example of free enterprise, privately and competently managed. It is now subject to many types of controls even in the best of market economies of the world. “Agricultural support policies are common in developing as well as developed countries, to enable growers to overcome the distress arising from natural calamities and market failures” (Shunmugam and Lingareddy 2019). This chapter is devoted ...
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