Author : United States. Congress. House. Committee on Government Operations. Government Information, Justice, and Agriculture Subcommittee
Release : 1984
Genre : Grain
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Continued Investigation of USDA's Guaranteed Grain Storage Program by : United States. Congress. House. Committee on Government Operations. Government Information, Justice, and Agriculture Subcommittee

Download or read book Continued Investigation of USDA's Guaranteed Grain Storage Program written by United States. Congress. House. Committee on Government Operations. Government Information, Justice, and Agriculture Subcommittee. This book was released on 1984. Available in PDF, EPUB and Kindle. Book excerpt: "One, in May 1981 CCC tied its own hands when it adopted a policy of accepting any charge a warehouse wished to make for grain storage and handling under the CCC's Uniform Grain Storage Agreement [UGSA]. CCC specifically removed its right to negotiate for better rates. Two, with the storage and handling rates out of control, CCC then decided to save money by signing 2- to 5-year agreements which guaranteed payments to warehouses whether the space was used or not. The rationale for this program, in the beginning, was that CCC was required by law to maintain a 147-million-bushel food security reserve for wheat and a 75-million-bushel disaster reserve of any and all grains. The CCC Board approved the plan with the understanding: hat the Government would save money because long-term rates would be equal to or less than the annual UGSA rates; That the long-term agreements would contain an early-out clause in the event that the CCC needed to terminate a contract; and That CCC officials would negotiate for better rates if offers were too high"--Page 1/2.