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floor-price
DCHP-1 (pre-1967)
Entry from the DCHP-1 (pre-1967)
This entry may contain outdated or offensive information, terms, and examples.
n.
a minimum price set on a commodity by the government to protect the producer from losses due to a drastic decline in market prices.
Quotations
1953
With the prospect of a return to a free market in the post-war years, the farmers began agitating for a floor-price to protect them against a drastic decline.
1957
I asked the Prime Minister if he would be prepared to carry out his promise to consider the question of stock piling base metals and maintaining a floor price on those metals, that is to say, lead, zinc, copper and so on, metals which have depreciated in price. . . .