Word: cacao
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Dates: during 1960-1969
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Exports are in deep trouble. Prices of Latin America's major commodities-mostly agricultural products (cacao, sugar, coffee), minerals (lead, zinc) and petroleum-are down and slipping lower. Between 1957 and 1960, the overall price decline amounted to 11.5%, effectively canceling out a 13.5% increase in the volume of goods sold abroad. "This situation," said the report, "is unparalleled in other underdeveloped areas of the world...
...billion worth of support over the next ten years. Reversing a position of long standing, the U.S. has also agreed to take part in a scheme designed to support coffee prices. It may now be asked to do the same for such other Latin American commodities as cacao, lead and zinc...
Sunderland found himself at the head of an empire which, besides banana lands in eight tropical American countries, included cattle ranches, thousands of acres in sugar cane, cacao and oil palm, 1,380 miles of railroads, 55 ships, a sugar refinery and a communications network (Tropical Radio Telegraph Co.). He also found himself saddled with a chaotic organization in which three men might be working on the same project without being aware of each other's existence. The company also suffered from memories of the freewheeling days when it was run by the late Sam ("The Banana Man") Zemurray...
...first century in business, New York's "Old Lady of Hanover Square"-W. R. Grace & Co.-appeared to be sinking into the feebleness of age. For generations, Grace Line ships had raced unchallenged along the west coast of South America, trading cargoes of coffee, cacao and sugar and piling up 90% of Grace's multimillion-dollar profits. But after World War II, as subsidized Latin American merchant marines sprang up to compete for cargoes and challenged Grace's trading supremacy, the company's profits fell from...
...Europe-including 30 million liters last year to France. It is the world's No. 1 producer and exporter of coffee, ranks seventh in soybeans and rice; sixth in tomatoes, sweet potatoes and peanuts; fifth in jute; fourth in tobacco and cotton; second in sisal, cane sugar, cacao, corn, oranges. Yet its agricultural technology is primitive and its export potentiality (it grows more bananas and pineapple than any other country, but exports little) is barely tapped...