Word: beetly
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...food prices are soaring rush to raise artificially the price of a basic supermarket staple? Yet that is just what is happening to sugar. Moreover, the congressional effort is designed to bail out far fewer than one-half of 1% of the nation's farmers, specifically 11,000 sugar-beet growers and 1,800 raisers of sugar cane...
...made them plunge to about 8¢. Late last year the Administration signed the International Sugar Agreement, which would use buffer stocks and export restraints to keep prices between 15¢ and 19¢ per Ib. But the ISA deal must be ratified by the Senate; and Church, who represents a big beet-grower constituency, has kept the agreement bottled up in the Foreign Economic Policy Subcommittee, of which he is chairman. He plans to hold the treaty hostage until some legislation is adopted that will give sugar growers firmer price guarantees...
...quotas, but the President refused, arguing reasonably enough that quotas would be too protectionist. Instead, he ordered a 2?-per-lb. subsidy, which was supposed to enable efficient domestic producers to make a profit on their crops. But the nation's 5,000 sugarcane and 15,000 sugar-beet growers found that world prices were continuing to drop so fast that even with the subsidy they were losing money. At the same time, the major sugar-user firms, such as the Coca-Cola Co., General Foods Corp. and Nestlé Alimentana, were more than happy with Carter...
Ironically, Poland is traditionally an exporter of beet sugar, but this summer's drought severely cut production, and the shortage has been aggravated by hoarding. One farsighted Warsaw housewife recently managed to stockpile 1.5 tons of sugar for herself. In addition, the Soviets last spring tripled their purchases of Polish sugar (to 151,000 tons). When Gierek asked permission to make smaller or later deliveries, Moscow refused...
...undo the damage already suffered by farmers in northwestern France, Belgium, southern England and northern Italy. Only an estimated 92 million tons of grain, instead of the anticipated 108 million tons, will be harvested this year, says Petrus Lardinois, the European Economic Community's farm commissioner. The sugar-beet crop will probably total 9.5 million tons-1.5 million tons below expectations. Lacking fodder, many farmers are slaughtering part of their livestock herds. There is a beef glut right now-and the chance of a shortage next winter...