Book Description

World grain production declined by 5 percent in 1983-84, with total production dropping to the lowest level in three years. Factors behind the reduced production includens the U.S. Payment-In-Kind Program, the most severe drought in the in the United States since the mid 1930s and adverse weather in Africa and parts of Europe. Global grain carryover stocks fell sharp by late summer 1984 to levels below minimum standards for world food security, with much of the decrease being in U.S. stocks. After a tow-year decline, world grain exports recovered only slightly in 1983-84 and remain moderately below the record 1980-81 level. Competition in international trade and a strong U.S. dollar have reduced United States shares of global exports in the last three years,with the largest decreases being in grains, oilseeds and oilseed products. While the Payment-In-Kind Program reduced U.S. crop plantings, certain other nations expanded their grain area-especially whet. This trend also appears to have contributed some to erosion of the U.S. share on international grain trade U.S. exports of all farm production in dollar value in 1982-83 dropped about one-fifth below the 1980-81 record. An accompanying increase in agricultural imports brought a moderate decline in the U.S. net trade balance in agricultural products. Declining exports have intensified financial pressures in agriculture and adversely affected incomes and employment in agricultural related industries and rural commuties. U.S. and world agricultural exports.