| Summary: | Determination of agricultural prices is intensely political because of its profound influence on equity, income distribution, consumption, production, and economic development. Thus agricultural price policy occupies a major place in political debate, the deliberations of government bureaucracies, and the decisions made by consumers and producers. This is so in both high-income countries, where food and agriculture represent a small part of aggregate income but are still important in consumption and politics, and in low-income countries, where they are central to the political and economic processes.
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