EXPORTS OF U.S. FARM PRODUCE

Press, Volume LXXXIX, Issue 27151, 22 September 1953, Page 9

EXPORTS OF U.S. FARM PRODUCE

30 Per Cent. Fall In Last Year (N.Z. Press Association—Copyright) (Rec. 8.30 p.m.) WASHINGTON, September 20. The United States Department of Agriculture reported today that exports of United States farm products during the year ended July 1 were 30 per cent, smaller than those of the preceding year, and 20 per cent, less than the average of the last five years. Exports were valued at 2,800,000,000 dollars, compared with a record of more than 4,000,000,000 dollars in the preceding year and with the five-year average of 3,500,000,000 dollars. “This sharp decline in the value of our agricultural exports has been a major factor in reducing the status of American agriculture during the last 12 months,” the Department of Agriculture said. “Factors contributing to this decline in foreign sales include improved farm production outside the United States; reductions .in stocks in importing countries in response to an expanded world supply; reduced United States foreign economic aid; a continued though less stringent dollar shortage abroad; and low world prices for several commodities compared with United States prices.”