Word: cocoa
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...pact is supposed to increase trade to $160 million this year, to $225 million by 1965 and after that, it all depends on how things work out. Brazil will import Russian oil, wheat, airplanes, tractors and industrial machinery. In turn, the Russians promise to buy Brazilian oranges, cotton, rice, cocoa, plus 60,000 tons of coffee per year-about 5% of Brazil's coffee exports. Being tea drinkers themselves, the Russian's propose to send shiploads of the coffee to Castro's Cuba. And on this point the two countries fell into their first conflict. Under...
...years ago in Ecuador, a farmer could buy a tractor with the money from selling 50 bags of coffee; now it takes 150 bags. In Malaya, the government has lost $60 million in export duties in the past two years because of falling rubber prices. A 50% drop in cocoa prices has forced Ghana to suspend its economic development program. When a Biblical-sized storm of cotton worms descended on Egypt's cotton crop in 1961, the damage cost Egypt nearly $200 million in foreign exchange. All of these countries have one problem in common: their economies depend heavily...
...most visible measure so far, many developing nations are banding together to impose controls and stabilize prices. The world's major cocoa producers have set up their own organization, and their representatives met last month in Trinidad. Peanut exporters have banded together for self-protection, and so have the world's tin-producing nations, which have set up a sophisticated and successful plan to stabilize prices. Producer-consumer organizations hold the most promise; meeting under United Nations auspices, the major coffee-consuming nations decided last summer to guarantee a set price for coffee if the producing nations will...
...hawk's She was the thinnest person I had ever seen: she looked like these pictures from the concentration camps, except that her body was all by itself, and it was green. The skin just flopped ever her bones like the stuff you pick off the top of cocoa with your spoon...
Most of the inflation in Latin America results from the same thing that caused the incident at Córdoba: unwillingness to face economic realities. When the world wide glut of coffee, cocoa, copper and other commodities cut into their export earnings, too many Latin governments responded by printing more paper currency and borrowing heavily abroad. Latin America's rich have also contributed to the weakening of their nations' currencies and economies by prudently squirreling away huge sums-estimated at $10 billion to $15 billion-in Miami real estate, foreign securities and Swiss bank accounts. In Argentina alone...