Word: cocoa
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...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...
Great Britain last week extended its monopolistic state-trading system to the peacetime cocoa market. In a White Paper, Britain let it be known that its wartime policy of buying and selling its West Africa cocoa (close to 60% of the world's) would be a permanent practice...
...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...