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Abstract
In the 2 years following the January 1980-April 1981 sales suspension, Soviet purchases
of U.S. farm goods have remained more than one-third below 1979's record $3 billion in
agricultural sales. The worldwide economic recession reduced demand for U.S. agricultural
exports during 1982, lowering agricultural
levels.
export values by 15 percent from year-earlier
Sluggish foreign demand, low prices, higher U.S. dollar exchange rates, and heavy
rains contribut2d to the continued decline in U.S. exports of farm products during April.
The U.S. dollar continued to strengthen against other currencies during the first 6
months of 1983. Following the January announcement of the payment-in-kind (PIK) pro·gram,
export prices have risen in tandem with domestic crop prices. U.S. agricultural
export assistance through credit guarantee programs totaled nearly $1.6 billion during
1982 ..