Word: exporting
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Dates: during 1960-1969
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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 of the International Coffee Organization in London this month, Borio argued for considerably lower coffee quotas-the amount of coffee that producers are allowed to export-to help keep prices up by reducing the supply. Opposed by the U.S., the world's biggest coffee consumer, he wound up agreeing to a new world quota of 48 million bags-a scant 300,000 lower than the old quota. Angry at this failure, Brazilian producers also criticized Borio for selling 180,000 bags of low-grade coffee to Algeria and Lebanon at cut-rate prices...
...Asian-born, Western-trained economists who directed the survey are worried most about the crisis facing Asia's agriculture and mining. Eighty percent of the area's export income comes from such primary commodities as rubber, minerals, tea and jute - but commodity prices fluctuate sharply, and industrial nations are turning increasingly to man-made substitutes. Because of soft prices and shaky politics, the inflow of foreign capital is declining. Asia's foreign exchange reserves are far lower and its trade deficits three times higher than a decade...
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...