Gate Price

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Gate Price

Summary of Gate Price

The minimum price at which pork, poultry, and eggs werw permitted to enter the European Economic Community under the common AGRICULTURAL POLICY (read this and related legal terms for further details) without imposition of a supplementary levy in addition to the basic variable levy. The gate price, known also as the lock-gate price, sluice-gate price, and minimum import price, was derived by computing the cost of feed for covered swine and poultry and all other costs of production. The feed costs were adjusted quarterly in conformity with world market prices for the relevant feed. The other factors were constructed so as to represent producer costs in non-EEC countries. From the two inputs, a theoretical C.I.F. price was derived for imports. When imported products fall below this value, levies could be imposed to negate the price advantage of the foreign producer.

(Main Author: William J. Miller)

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