The Agricultural Situation in the Western Hemisphere: Review of 1972 and Outlook for 1973
2021
Developing Countries Branch, Foreign Demand | Competition Division, Economic Research Service
Canada's 1972 agricultural production fell below the previous year's record, because of cutbacks in grain acreage. Per capita food production in Latin America dropped 5 percent due to unusually bad weather. Higher world prices contributed to a rise in Hemisphere earnings from agricultural exports; and imports were increased to fill larger deficits in food production. U.S. agricultural exports to Hemisphere countries increased from the 1971 record of $1.38 billion to $1.59 billion in 1972; and a further rise is anticipated in 1973.
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