TeachMeFinance.com - explain Intermediate agricultural products
Intermediate agricultural products The term 'Intermediate agricultural products ' as it applies to the area of agriculture can be defined as ' Generally refers to agricultural products that have a higher per-unit value than bulk commodities; they are often partly processed but not necessarily ready for the consumers. Examples might include soybean meal, wheat flour, vegetable oils, feeds and fodders, animal fats, hides and skins, live animals, and sweeteners such as sugars. Applied to trade policy, intermediate products are one of three categories of agricultural products used by the Foreign Agricultural Service to report export and import data under its BICO system (the others are bulk and consumer-oriented agricultural products). The agricultural trade title (Title II) of the FAIR Act of 1996 permits the Secretary of Agriculture to make available up to $100 million annually of Export Enhancement Program funds for the sale of intermediate agricultural products'.
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