Word: rice
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Dates: during 1950-1959
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...born 30 years ago on Long Island, started in journalism as a copy boy for the old New York Sun. There he ran errands for the late Grantland Rice, and John Kieran helped him with his math homework. At the end of World War II he was a newscaster and disk jockey for the armed forces radio stations in the Philippines. Back home, he covered the U.N. for the United Press before he enrolled at Harvard. Graduated in 1950, Connery worked for a year in the university's news office, then joined TIME. Ranging out of our Chicago bureau...
...started in East Pakistan, the tropical province separated from the rest of Pakistan by nearly 1,000 miles of Indian territory. Early last week thousands of angry peasants poured into the East Pakistan capital of Dacca to protest against persistent food shortages that have almost doubled the price of rice in the last two months. When the crowd swelled to 15,000, Dacca's police opened fire "in self-defense." The riots kept on for two days, and finally, after five rioters had been killed and two leading politicos smeared with filth by the mob, East Pakistan...
...outlined by Agriculture Secretary Ezra Taft Benson, the agreement calls for India to pay about $200 million for 130 million bu. of U.S. wheat (more than 15% of the U.S. surplus), $70 million for 500,000 bales of cotton, $26.4 million for 440 million Ibs. of rice (more than 20% of the total U.S. Government rice stocks), $6,000,000 for 6,000,000 Ibs. of tobacco and $3,500,000 for dairy products...
...mind," said Burma's ex-Premier U Nu-and he should know. Burma's Rangoon docks were still overflowing with the bartered Iron Curtain cement it could not use (TIME, May 21). Originally Burma thought that it had at least got a good price for its surplus rice-only to find that the Soviet Union was upping the prices of the goods it sent in exchange. All this was demoralizing enough. Last week Burma came face to face with another unsettling discovery: it really had no surplus rice problem to begin with...
Burma's rice crop turns out to be smaller and the country's potential market bigger than it had calculated. Already losing 10% to 30% of the value of the bartered rice, Burma decided to lower slightly the prices on the rest of the crop. It found itself besieged by cash customers: India, Indonesia, Pakistan, Malaya. Now Burma faces a frustrating problem: there is not enough exportable rice to supply cash customers and at the same time fulfill barter obligations (600,000 tons a year) to the Iron Curtain countries. Burma has already mortgaged some...