7 U.S.C. § 602 — Declaration of policy; establishment of

Page 454 TITLE 7—AGRICULTURE § 602 1 So in original. Probably should be followed by a comma. ‘‘(k) Section 22 (relating to imports [section 624 of this title]). ‘‘SEC. 2. The following provisions, reenacted in sec- tion I of this act, are amended as follows: * * * [sec- tions 601, 602(1), 608a(6), 608c(5)(B)(d), (6)(B), (6)(B)(18), (19), 610(c), (f), 612(a) of this title].’’ Section 2 of act June 3, 1937, also added subsec. (j) to section 610. Section 2 of act June 3, 1937, was amended by act Aug. 5, 1937, ch. 567, 50 Stat. 563, which amending act pro- vided for amendments to subsecs. (2) and (6) of section 608c of this title. § 602. Declaration of policy; establishment of price basing period; marketing standards; or- derly supply flow; circumstances for contin- ued regulation It is declared to be the policy of Congress— (1) Through the exercise of the powers con- ferred upon the Secretary of Agriculture under this chapter, to establish and maintain such orderly marketing conditions for agricultural commodities in interstate commerce as will establish, as the prices to farmers, parity prices as defined by section 1301(a)(1) of this title. (2) To protect the interest of the consumer by (a) approaching the level of prices which it is declared to be the policy of Congress to es- tablish in subsection (1) of this section by gradual correction of the current level at as rapid a rate as the Secretary of Agriculture deems to be in the public interest and feasible in view of the current consumptive demand in domestic and foreign markets, and (b) author- izing no action under this chapter which has for its purpose the maintenance of prices to farmers above the level which it is declared to be the policy of Congress to establish in sub- section (1) of this section. (3) Through the exercise of the powers con- ferred upon the Secretary of Agriculture under this chapter, to establish and maintain such production research, marketing research, and development projects provided in section 608c(6)(I) of this title, such container and pack requirements provided in section 608c(6)(H) of this title 1 such minimum standards of quality and maturity and such grading and inspection requirements for agricultural commodities enumerated in section 608c (2) of this title, other than milk and its products, in interstate commerce as will effectuate such orderly mar- keting of such agricultural commodities as will be in the public interest. (4) Through the exercise of the powers con- ferred upon the Secretary of Agriculture under this chapter, to establish and maintain such orderly marketing conditions for any agricul- tural commodity enumerated in section 608c(2) of this title as will provide, in the interests of producers and consumers, an orderly flow of the supply thereof to market throughout its normal marketing season to avoid unreason- able fluctuations in supplies and prices. (5) Through the exercise of the power con- ferred upon the Secretary of Agriculture under this chapter, to continue for the remainder of any marketing season or marketing year, such regulation pursuant to any order as will tend to avoid a disruption of the orderly marketing of any commodity and be in the public inter- est, if the regulation of such commodity under such order has been initiated during such mar- keting season or marketing year on the basis of its need to effectuate the policy of this chapter. (May 12, 1933, ch. 25, title I, § 2, 48 Stat. 32; Aug. 24, 1935, ch. 641, §§ 1, 62, 49 Stat. 750, 782; June 3, 1937, ch. 296, §§ 1, 2(b), 50 Stat. 246, 247; Aug. 1, 1947, ch. 425, § 1, 61 Stat. 707; July 3, 1948, ch. 827, title III, § 302(a), 62 Stat. 1257; Aug. 28, 1954, ch. 1041, title IV, § 401(a), 68 Stat. 906; Pub. L. 87–128, title I, § 141(1), Aug. 8, 1961, 75 Stat. 303; Pub. L. 89–330, § 1(a), Nov. 8, 1965, 79 Stat. 1270; Pub. L. 91–292, § 1(1), June 25, 1970, 84 Stat. 333.) Editorial Notes AMENDMENTS 1970—Subsec. (3). Pub. L. 91–292 inserted authority to establish and maintain the production research, mar- keting research, and development projects provided in section 608c(6)(I) of this title. 1965—Subsec. (3). Pub. L. 89–330 inserted ‘‘such con- tainer and pack requirements provided in section 608c(6)(H) of this title’’. 1961—Subsec. (5). Pub. L. 87–128 added subsec. (5). 1954—Subsec. (4). Act Aug. 28, 1954, added subsec. (4). 1948—Subsec. (1). Act July 3, 1948, made definition of ‘‘parity’’ conform to definition stated in section 1301(a)(1) of this title. 1947—Subsec. (3). Act Aug. 1, 1947, added subsec. (3). 1937—Act June 3, 1937, inserted ‘‘orderly marketing conditions for agricultural commodities in interstate commerce as will establish’’ before ‘‘as the prices to farmers’’. 1935—Subsec. (1). Act Aug. 24, 1935, ch. 641, § 1, amend- ed first sentence and act Aug. 24, 1935, ch. 641, § 62, amended second and third sentences. Subsec. (2). Act Aug. 24, 1935, amended subsec. (2). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1948 AMENDMENT Amendment by act July 3, 1948, effective Jan. 1, 1950, see section 303 of act July 3, 1948, set out as a note under section 1301 of this title. VALIDITY OF SECTION AFFIRMED Act June 3, 1937, ch. 296, § 1, 50 Stat. 246, affirmed and validated, and reenacted without change the provisions of this section except for the amendment to subsec. (1) by section 2 of said act. See note set out under section 601 of this title. SUBCHAPTER II—COTTON OPTION CONTRACTS § 603. Government owned cotton; transfer to Sec- retary of Agriculture; powers of Secretary The Farm Credit Administration and all de- partments and other agencies of the Govern- ment, not including the Federal intermediate credit banks are directed— (a) To sell to the Secretary of Agriculture at such price as may be agreed upon, not in excess of the market price, all cotton now owned by them. (b) To take such action and to make such set- tlements as are necessary in order to acquire full legal title to all cotton on which money has been loaned or advanced by any department or agency of the United States, including futures