Latin America: world agriculture regional supplement; review of 1982 and outlook for 1983
Extract: The volume of Latin American farm exports is expected to grow modestly again in 1983, but continued weak price prospects suggest that revenues could decline. The outlook for agricultural imports for the region is mixed. Below-trend domestic production, lower prices, and continued population growth are signs of strength, but much of this could be offset by reduced per capita incomes and growing foreign exchange shortages in many countries. U.S. farm exports to Latin America reached $4.9 billion in fiscal 1982, but they are expected to slip to $4.6 billion this year. U.S. imports from the region declined to $5.6 billion in calendar 1982, but are expected to increase in both calendar and fiscal 1983. Agricultural production declined 1.5 percent in 1982. The outlook for 1983 is for some improvement, but probably not up to trend levels.
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