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In 1973 the demand for United States farm commodities was at a record level. Stocks of grain, which had been built up over a number of years, were rapidly depleted by several factors including world demand, export subsidies, and devaluation of the dollar. In response to this abnormal situation, The Agricultural and Consumer Protection Act of 1973 was enacted. This act, contrary to past legislation, emphasized the maintenance or increase of production. But the 1972 to 1974 per capita decline in world food production was shortlived, and output slowly returned to more normal levels. The Food and Agriculture Act of 1977 reflected this return by replacing the ''fence row to fence row" policies of the 1973 legislation with supply controls once again.

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Center for Agricultural and Rural Development, Iowa State University


Ames, IA


Agricultural and Resource Economics | Agricultural Economics | Agricultural Science | Agriculture | Natural Resources Management and Policy | Soil Science