Word: exporters
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Many economists are urging export controls on wheat and other grains to head off domestic shortages and bring prices down. But Administration officials believe, with some reason, that controls might actually make things worse. They suspect, for example, that some of the 1.2 billion bu. of U.S. wheat reportedly bought by foreigners this crop year is not yet firmly committed to export. Instead, it is being held by foreign speculators who will sell it wherever they can get the highest price-which could...
...export controls were clamped on, international prices would rise above those prevailing in the U.S., and the wheat really would move abroad. A few officials are more sympathetic to the idea of calling a world commodity conference to work out international methods of controlling the speculative buying that has helped to rocket prices upward. That seems a good idea, but the Administration is opposed to outright allocation of scarce foods and raw materials between countries, and international panic buying may be unstoppable without that...
...began its marketing drive in 1961. Analysts from all departments were sent abroad to collect information on weather conditions, lifestyles, laws and regulations, income levels, road conditions, competition, driving habits and economic and political policies. To gain publicity and technical knowledge through competition with European cars, Toyota's export council ordered participation in international auto shows and rallies. Sales rose steadily-from 2,114 in 1964 to 59,019 in 1970 to 162,841 last year...
...Butz failed to move quickly to stop Government export subsidies to the grain companies. If the domestic wheat price exceeded a target level of about $1.63 a bu.. including transportation from the farm to Gulf ports, an exporter could claim a subsidy for the difference. When the Soviets started ordering last summer, the subsidy was about 6? a bu. Incredibly, Butz's office let the payments continue for nearly two months after the first sales, until the subsidy swelled to 47?. If the handouts had been halted, the export price of wheat would have shot...
...else made much of a killing. Continental Grain officials testified last week that the company earned "less than normal profits" on the deal. Cargill actually lost about 1? a bu. on the approximately 73 million bu. that it sold to the Soviets-in part because of snags in the export-subsidy program. For example, the subsidies did not always cover the extra expenses caused by transportation...