Word: exporters
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...world's coffee, the country's share of the market has steadily declined. While warehouses are bulging with beans, stevedores in Santos and other big coffee ports nowadays lounge about playing cards. This year Brazil will probably not be able to find buyers for its allotted export quota of 18 million bags, or 37% of the world market. The main problem: an inflexible policy of too-high coffee prices and official bungling and corruption. Last week Brazil an nounced new policy goals designed to stabilize prices and to put coffee exports on a more businesslike basis...
Juan's Challenge. Among world commodities, coffee ranks second only to petroleum in export value, and in Brazil it is the No. 1 cash crop. Part of Brazil's crisis, of course, may be only temporary: drought and forest fires caused considerable scare-buying and stockpiling abroad, followed by a sharp drop in demand. But by charging as high as $62.37 a bag (132 lbs.), Brazil is asking more than the world market will bear. Aggressive African and Central American producers are busy underselling it, and Colombia has benefited from a successful U.S. ad campaign that features...
Meeting the challenge by imposing voluntary production controls, skillfully negotiating export quotas with other countries and increasing the variety and quality, the textile industry increased its exports 16.8% to a record $350 million last year, expects at least a 6% gain this year. There is actually a shortage of 14,000 textile workers...
...some when Fidel Castro, 37, steps up to the mound to give a demonstration of his celebrated pitching prowess. Since he won the revolution, he has not lost a game. But now it appears that Fidel's new soothing syrup is for domestic consumption as well as export. Radio Havana breathlessly reported that a recent beisbol game ended 3-0 after five innings with el máxima lider the losing hurler, though naturally he was "in magnificent form." Why five innings? Well, when Castro walks off the field, it seems that everybody else quits...
...Slowdown. The Arab boycott is a nuisance to Israel, if only because it deprives Israel of the Arab market, a $50 million export area that would normally be its most obvious customer. Israel's other major irritant is the refusal of the international oil companies to defy the Arab trade ban-for obvious reasons. Despite the boycott, Israel's little economy continues to grow. The gross national product has more than doubled, to almost $2.5 billion, since the boycott began; foreign currency reserves have tripled, to $600 million. Most important, foreign investment in Israel goes on unchecked...