SALES FOR FOREIGN CURRENCY

The following seven tables summarize operations under title I of Public Law 480. Table 6 summarizes by countries all the agreements made through May 31, 1959, showing the market value of the commodities covered by the agreements and the quantity actually shipped. Table 7 breaks this summary down by commodities. Table 8 shows the commodity composition of agreements signed during fiscal year 1959 with cumulative totals from the start of the program through June 30, 1959. This table shows, also, the cost of ocean transportation and the market value of the commodities compared to the cost of the commodities to the CCC. Table 9 shows the quantities of commodities programed under agreements signed in fiscal year 1959 and table 10 shows the planned uses of the foreign currency under these agreements. Table 11 shows actual receipts of foreign currency under each Public Law 480 agreement and its status in Treasury accounts. Of interest is the December 1958 exchange rate of the currency, as shown in the third column, compared to the rate of exchange stipulated in the agreements. In the last column any difference in exchange rate is applied to the Treasury balance, computations by the General Accounting Office. Table 12 is a composite of all exports under Public Law 480 to March 31, 1959, showing the program under which exported.

TABLE 6.-Title I, Public Law 480: Amount programed under agreements signed through May 31, 1959, and estimated market value of commodities shipped from beginning of program through May 31, 1959

1 Value is estimated export market value, f.o.b. U.S. ports, of tonnage shown on ocean bills of lading. Estimates are revised to reflect actual amounts financed when this information is obtained for completed authorizations.