Commercial Sales Dominated Agricultural Exports in Fiscal Year 1963-64

Excerpts from the Report: U.S. agricultural exports rose to an alltime record of $6,074.5 million in the fiscal year 1963-64, 20 percent and nearly $1 billion above the year before. Practically all the increase was in commercial sales for dollars, which were at a record high of $4,512.5 million, about three-fourths of the export total. Factors contributing to the unprecedented increase in agricultural exports for dollars included the continued advance in economic activity in Western Europe and Japan with consequent increases in disposable income; shifts in dietary habits toward stronger demand for meat and livestock consumer products; growth in the livestock industries in these countries, resulting in increased demand for feed grains, oilseeds, and high protein meal; competitive pricing and better quality of U.S. exports; and U.S. market development efforts. Exports under Government-financed programs totaled $1,562.0 million, about $20 million above 1962-63 and about one-fourth of the export total. Sales for foreign currency under Title I of P.L. 480, although slightly below those of 1962-63, made up two-thirds of program shipments. Donations under Title II of P.L. 480 and long-term supply and dollar credit sales under Title IV of P.L. 480 fell below those of a year earlier. Donations through voluntary relief agencies under Title III were nearly one-tenth above 1962-63, and shipments under the barter program nearly doubled.