TITLE

WORLD FOOD: PRICES AND THE POOR

AUTHOR(S)
Schertz, Lyle P.
PUB. DATE
April 1974
SOURCE
Foreign Affairs;Apr1974, Vol. 52 Issue 3, p511
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article focuses on the relationship between the prices of food and poverty worldwide. Events of the past two years have made food an increasingly worrisome item in household budgets and in the budgets of nations. In early 1974, food prices to the American consumer were 25 percent greater than two years earlier. This reflected dramatic increases in farm beef prices, while farm corn prices were double and wheat prices triple those of early 1972. In the developing new market situation, U.S. agricultural exports in calendar 1973 reached $18 billion, up from $9.4 billion the previous year and an average of $6.7 billion over the past five years. Although world cereal production recovered and indeed reached record levels in 1973, American agricultural exports in the current year continue high, and remain a critical element in the reversing of serious balance-of-payments deficits. To adjust to the new price situation is in itself a major challenge for the United States and other developed countries. Americans must recognize that they have perhaps given themselves too much credit in the past for a generosity that in fact accorded with the market situation of American farm interests; so now they may appear to the world more to blame for hardships than a fair assessment would warrant.
ACCESSION #
5810871

 

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