WASHINGTON (Nov. 14)
The Department of Agriculture announced today that the United States will send $20,740,000 worth of farm commodities to the United Arab Republic under the U.S. Food for Peace program. An agreement signed in Cairo provides for shipments to Egypt of U.S. goods including maize, tallow, cotton seed, oil, corn and dried milk to be paid for in Egyptian currency under long-term credits arrangement.
According to reports from Cairo, the Egyptian economy is believed to be in trouble, having lost much of the country’s cotton and corn harvest this year. While the agreement provides for sending to Egypt 200,000 tons of corn, the Nasser Government was reportedly expecting that the U.S. Government would provide an additional 100,000 tons of corn as a gift.