Word: cocoa
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...many international transactions, are somewhat overstated since they are expressed in sterling and the pound has been sinking sharply in value. Even so, they are worrisome. Some examples: the sterling price of copper wire bars has jumped 83% above its 1975 low, zinc 44%, nickel 61%, tin 53%, cocoa 161%. In the U.S., soybean futures prices rose 13 cents, to $7.20 a bushel, last week on the strength of rumors of possible large sales to the Soviet Union and China. A recent Common Market economic report notes that the rise in spot commodity prices makes it unlikely that Europe...
Agreements of varying efficacy now exist to stabilize the prices of tin and coffee. Secretary General Corea and the Group of 77 want an "integrated program" to cover those commodities and eight others: cocoa, copper, cotton, hard fibers (like sisal), jute, rubber, sugar and tea. They will ask that a $3 billion fund be set up to accumulate stockpiles of each product. An independent group appointed by producers and consumers would be empowered to add to and sell from the stockpiles to keep world prices within a preagreed range...
...each limo drew up, one heard a brief, collective indrawing of breath as lungs dilated for the big squeal; generally it was followed by a disappointed exhalation, as the couple issuing from the Cadillac turned out to be unrecognizable. Lip gloss, hair spray, three-tone streaks, cocoa-butter tans, insecure Zapata mustaches and wine red crushed velvet tuxedos: the women looked like tennis club matrons and their escorts like croupiers. The teenies had come for Al Pacino, but he was in New York. Prodded by the eupeptic booming of the outside master of ceremonies, they stayed to squeal at Walter...
...help 46 African, Caribbean and Pacific states, whose principal exports include cocoa, coffee, copra and cotton. If one of those countries' commodity earnings drop below an established minimum, it can draw an amount equal to the shortfall from the fund; when the commodity earnings recover, the fund is repaid...
...world's southern hemisphere will try to align and squeeze higher prices out of the relatively rich industrial nations of the northern hemisphere. Already the two sides are squabbling over what to do about the wild swings in prices of such basic materials as copper, rubber and cocoa...