WASHINGTON, July 27 (Xinhua) -- The U.S. House of Representatives passed a multi-billion dollar farm bill on Friday, despite a veto threat from the White House.

The new five-year package devotes money not included in past farm bills to conservation, renewable energy, nutrition and specialty crop programs but leaves in place, and in some cases increases, subsidies to producers of major crops such as corn and soybeans at a time of record-high prices, according to news reports.

Democratic House speaker Nancy Pelosi hailed the bill, which was passed by 231 votes to 191, as taking "America's farm policy in a new direction that stands with our farmers and ranchers and recognizes their vital role of providing food, fiber, and fuel for America and the world."

The White House, however, threatened to veto the legislation. Agriculture Secretary Mike Johanns said Wednesday that the House bill does not do enough to reduce subsidies to growers.

The bill was approved unanimously by the House Agriculture Committee last week.

Subsides are one of the obstacles blocking the current round of global trade talks.

The U.S. Senate will take up its farm bill in September and differences with the House version will have to be reconciled before the measure is presented to President George W. Bush for signing.

The current farm bill expires on Sept. 30, the end of the 2007 fiscal year. The new measure covers five years from 2007 through 2012.