support price
noun[C]
ukusECONOMICS
apricefor something, forexamplefor afoodproduct, that is set by thegovernment. If therealpricefallsbelow thesupportprice, thegovernmentpaysfarmers, etc. thedifferencebetween the twoprices:
Thegovernmentincreasedthesupportpriceforwheat.