Word: ib
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Dates: during 1970-1979
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...reduced their consumption by 17% in the past year. Slack demand and the prospect of heavy harvests have driven down futures prices on the New York Coffee and Sugar Exchange. Contracts for coffee beans to be delivered in July fell to $1.95 last week, a drop of $1.45 a Ib. since April...
...about two years coffee drinkers have bitterly watched prices jump from $1.46 a Ib. to more than $4. A crop-killing frost in Brazil in 1975 touched off frantic bidding by buyers who feared a shortage; several coffee-producing countries aggravated the rise by increasing export taxes on the beans. Now the U.S. Department of Agriculture forecasts that Brazil, which normally grows about a third of the world's supply, will harvest about 17 million bags of beans in the crop year that begins Oct. 1-not far from double the 1976-77 crop of 9.5 million bags...
With the cost of brown gold hovering above $4 per Ib. and sales beginning to fall off, producers are hustling a variety of substitutes, additives and extenders to take the sting out of coffee prices. General Foods, the biggest U.S. coffee roaster (Maxwell House, Yuban, Sanka) is test marketing a new brand, called Mellow Roast, that is a combination of coffee and other ingredients -46% wheat, bran and molasses in the instant. Mellow Roast ads not only stress low price (about $2.90 for 8 oz. of instant) but also maintain that the additives yield "a delicious coffee taste without...
...California firm, Imported Fine Products, is distributing Buisman's Coffee Extender, a century-old Dutch concoction of caramel and calcium phosphate, at $4 to $5 per Ib.; two tablespoons of Buisman's, long used in schools and hospitals, will double the yield of a pound of coffee. Another caramel-based extender, Coffee STRETCH, now being sold in 1,000 Denver-area grocery stores, is selling fast at about 69e for a half-ounce packet. It too boosts the yield of a can of coffee...
...coffee altogether, are showing new interest in old substitutes such as Postum, the all-grain brew invented by C.W. Post in 1895 to cure "coffee nerves." Locally marketed versions, like Grandpa Knight's Cafe-Grano, an all-grain roast sold in the Cincinnati-Dayton area for $1.89 per Ib., are also in demand as replacements...