Commodity Credit Corporation
The Commodity Credit Corporation (CCC) is a Government-owned and operated entity that was created to stabilize, support, and protect farm income and prices. CCC also helps maintain balanced and adequate supplies of agricultural commodities and aids in their orderly distribution.
The Commodity Credit Corporation (CCC) was originally incorporated October 17, 1933, under a Delaware charter with a capitalization of $3 million. It was initially managed and operated in close affiliation with the Reconstruction Finance Corporation, which funded its operations. On July 1, 1939, CCC was transferred to the U.S. Department of Agriculture and later reincorporated under the Commodity Credit Corporation Charter Act (62 Stat.1070; 15 U.S.C. 714) on July 1, 1948 as a Federal corporation within the USDA.
The CCC stabilizes, supports, and protects farm income and prices, assists in maintaining balanced and adequate supplies of agricultural commodities and their products, and facilitates the orderly distribution of commodities.
CCC also carries out assigned foreign assistance activities, such as guaranteeing the credit sale of U.S. agricultural commodities abroad. Major emphasis is also being directed toward meeting the needs of developing nations. Agricultural commodities are supplied and exported to combat hunger and malnutrition and to encourage economic development in developing countries. In addition, under the Food for Progress Program, CCC supplies commodities to provide assistance to developing democracies.
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