The Agricultural Situation in the Western Hemisphere: Review of 1972 and Outlook for 1973

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.