H.R. 497 — A bill to establish a Bureau of Agricultural Statistics for the purpose of monitoring the changes in prices which occur in the price of agricultural commodities from the time they are sold by the farmer until the time when the consumer purchases such commodities or products thereof, and for the purpose of making recommendations to the Congress with respect to correcting situations in which the retail price of an agricultural commodity, or product thereof, rises while the price received by the farmer for the same commodity decreases.

Establishes in the Department of Agriculture a Bureau of Agricultural Statistics under the direction of a Commissioner appointed by the President. Directs the Bureau to obtain information about prices received by producers and processors of agricultural commodities used for food, and wholesale and retail food prices. Requires the Bureau to make recommendations to Congress twice a year regarding legislative action to lower retail food prices when such prices increase while the prices received by producers drop or remain constant.

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