Word: cottone
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Dates: during 1970-1979
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...consumers, but a blow to farmers. To shore up net farm income, which nearly doubled in 1973 but fell 17%, to $27 billion, last year, the measure would increase the support price of milk from 75% to 80% of so-called parity, raise "target" prices of wheat, grain and cotton (giving farmers cash subsidies if the price falls below the "target" level), and allow the Government to make larger loans to growers. It would also raise grocery bills. According to Agriculture Department economists, the addition to retail food prices this year would cost the consumer several hundred million dollars; milk...
...cities are among the victims of a distorted and unbalanced economy dominated by foreign, largely North American, interests. Immense plantations, owned by American corporations in partnership with the handful of rich Nicaraguans and worked by agricultural workers some of whom earn less than $1 a day, produce coffee, bananas, cotton and beef for the import market. At the same time, peasants working tiny, inefficient plots of land (which often also belong to landlords) struggle to coax enough beans, rice and corn from the soil to feed their families, with perhaps something left over to sell in the local market. With...
...months the criticism of Somoza has become even more bitter. Nicaragua's chronic crisis has been exacerbated by rising food costs, seen by the people as an indication that Somoza is speculating in prices (certainly the shift in rural production from foodstuffs to the more profitable export crop of cotton has contributed to the hike, and Nicaragua's food prices are clearly higher than those in neighboring Central American countries.) Additionally, the housing shortage in Managua remains acute, and a two-month strike of construction workers has halted all rebuilding save that which takes place protected by armed guards...
...increase in milk supports would raise consumer prices by 6? per gal. on milk and 15? per Ib. on butter, the Department of Agriculture estimates. The rise in target prices on cotton would immediately start Government payments flowing to farmers because the new target price would be above the present market level of about 40? per Ib. The rise could also cause some farmers who had been diverting land from cotton to soybeans to switch back again, thereby shrinking soybean supplies and possibly raising prices of the beans and also of cattle and hogs that are fed on them...
...Eastern Europeans are being forced to foot part of the bill. They will pay $3.3 billion for Soviet gas and oil this year compared with $1.2 billion in 1973. Furthermore, prices of oil and other key Soviet export commodities (nonferrous metals, iron, cotton) will now be reviewed each year and will be brought in line with world prices, perhaps by 1978. That will hurt Rumania...