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>So what changed in 1980? Effects of the agriculture policies starting 1973 which resulted in HFCS everywhere? Including sugar replacement with HFCS due to ta
by trhway 5y ago
>So what changed in 1980?
Effects of the agriculture policies starting 1973 which resulted in HFCS everywhere?
Including sugar replacement with HFCS due to tariffs https://scholarworks.montana.edu/xmlui/bitstream/handle/1/2554/WiltgenT1207.pdf https://scholarworks.montana.edu/xmlui/bitstream/handle/1/25...
"On the demand side, high fructose corn syrup (HFCS) was beginning to make
inroads as food and beverage manufacturers sought to replace sugar with a less expensive
input. As prices dropped, the International Trade Commission opened hearings to
determine whether or not imports were the source of “serious injury or threat thereof”
(USDA, December 1976, 15) to the domestic industry and, in March 1977, recommended
that imports be restricted. President Ford, anticipating this recommendation, increased
the tariff on raw sugar from 0.625 cents to 1.875 cents per pound in September 1976.
When the 1977 Food and Agriculture Act took effect on November 8, 1977, a price
support/ loan rate program was established (see “Price Support Loan” section). To reduce
government expenditures on this new program, President Carter raised import fees to 2.7
cents per pound for raw sugar and 3.22 cents for refined sugar. The import fee, coupled
with the import duty, served to control imports in the late 1970s. Both the fee and duty
reached their peaks in early 1979, when the fee for raw sugar was 3.22 cents and the
import duty was 2.8125 cents per pound. "