TeachMeFinance.com - explain Northern Europe (NE) cotton price
Northern Europe (NE) cotton price The term 'Northern Europe (NE) cotton price ' as it applies to the area of agriculture can be defined as ' An average of the five lowest prices of several internationally-traded cottons (including cost, insurance, and freight) quoted for delivery in Northern Europe. The NE price is used by USDA in its formula for calculating the adjusted world price, used in administering marketing assistance loan and step 2 payment benefits under the cotton price support program'.
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