Word: cocoa
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Helped along by the shipping shortage and the Fulmer farm-loan act, the wholesale price of many a kitchen necessity was at or near a four-year high. Wheat was 9% higher than in January; butter, 18%; sugar, 17%; coffee, 45%; cocoa...
...According to the Vice Premier, the Vichy merchant marine had thus far brought through the British blockade, mostly from Africa, 7,000,000 bushels of grain; 363,000 tons of wine; 180,000 tons of peanut oil; 135,000 tons of fruit; 35,000 of sugar, 12,000 of cocoa, 5,000 of meat and 3,000 each of fish and rum. The reason why Britain let all this slip through was doubtless reluctance by Winston Churchill to risk a third bloody clash like those at Dakar and Oran, but the problem of food for France had both London...
...Singapore and The Netherlands Indies, 25% to South America). Commodities markets boiled with evidence that traders knew there was many a shoal ahead for ocean-going freight. Rubber rose to 22.75? a Ib. (a new high for the season), raw sugar to 3.30? a Ib. (highest in 17 months), cocoa to 7.43? a Ib. (highest since...
...Commission received from the Office of Production Management a list of "essential" and "nonessential" imports which soon will be translated into cargo priorities. Classed as essential were the strategic and critical materials (rubber, tin, etc.), plus such secondary or civilian musts as leather, wool, zinc, copper, quinine, coffee, sugar, cocoa. On the nonessential list were frillier items which the U. S. imported to the amount of $200,000,000 last year: spices, wine, tea, furs, coconut oil, palm oil, fibres and burlap. By rationing shipping space just as machine tools and aluminum already are being rationed (TIME, March...
Still ahead lay other potential shortages -steel, copper, brass, power, freight-car manufacturing, foundries, shipping. As an omen of the shipping uncertainty, the price of imports-cocoa, rubber, silk-rose last week. Other commodities (flour, cotton goods, sugar) did the same. Meanwhile wages also nudged the trend. The woolen-textile industry upped wages 10%, and steelworkers met a U. S. Steel offer of 2½?-an-hour increase by a demand for 10?. By this week it was clear that, even if major strikes are averted, the U. S. economy was turning into a shortage economy. Higher inventories, higher prices...