Word: cocoa
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Dates: during 1940-1949
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Nowadays, whenever Britain's imperial eye turns south towards Africa, there stands Zik astride a large slice of rich Nigerian cocoa and palm nut holdings, coal and tin and bauxite deposits. Zik has a handhold on a rich chunk of the Empire and he will...
...sent to the U.S. for health and diet charts and hung them in the school hall. After studying them for a day and finding only milk and cocoa on the beverage list, the Southfield Road children came to her and said: "But please, miss, where...
Henceforth importers in the U.S., which uses 40% of the world's cocoa, will buy at Britain's price. (Britain also announced that state trading in cotton will be permanent policy...
...British claimed that they were only trying to protect the native grower "from short-term fluctuations of world prices." They denied any intention of nullifying the United Nations' economic agreements (see above). But to U.S. cocoa importers these protestations had a hollow ring. British price-fixing had little effect in wartime, when U.S. cocoamen could buy only what was allotted to them by international agreement, and could sell only at ceiling prices. Now, with ceilings off and allocations due to go Jan. 31, importers were hoping for a free market...
...rigging even before they issued their White Paper. Of a total current allocation to the U.S. of 80,000 tons, the British sold 30,000 tons just before domestic ceilings were removed. But since then they have failed to offer a single ton. Meanwhile, prices on the New York Cocoa Exchange have soared from 14.5? to 19.75? a pound. In their dingy offices on Manhattan's Beaver Street, cocoamen fumed: "The squeeze...