Excerpt from Foreign Crops and Markets, Vol. 60: March 6, 1950
Much of the increase in production since prewar has occurred in the United States and exports from.the United States during 1949 made the largest single contribution to the alleviation of the world shortage. On an oil equivalent basis, net exports exceeded one-half million tons, whereas as recently as-l93t-hl, the'united States had a net import balance of three-fourths million tons annually. Thus, compared to the earlier period, this country provided l-l/h million tons more fats and oils for consumption in other parts of the world. Indications are that United States exports will decline somewhat during 1950 because of the intensified shortage of dollar exchange in importing countries; As exportable surpluses of fats and oils accumulate in dollar areas, shortages will be intensified in certain non-dollar areas.
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