Word: brazill
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Over the city of Sao Paulo, Brazil for six years has hung a continual pall of acrid smoke. Meanwhile, the sky above Medellin, Colombia has been clear. Last week this fact was responsible for the death of a crop control program far older and far bigger than any ever attempted by the New Deal. With a suddenness which upset coffee cups all over the world the Brazilian Government announced that it would abandon its 31-year attempt to limit coffee production, would adopt instead a policy of open competition...
...rolling plateau of Brazil during bumper years more coffee berries are grown than the whole world could consume even if it stopped buying from all other coffee-growing nations in South America, Africa and the East Indies. The world annually consumes some 21,000,000 132.2-Ib. bags. For the past six years Brazil alone has grown an average of 20,000,000. This overproduction was a Brazilian headache as long ago as 1870. That year the Government bought coffee to use in paying foreign balances, lost heavily. In 1906 the Government began a valorization, scheme (buying coffee at artificial...
...inaugurated a program of destroying coffee bought from growers with the proceeds of a $2.40 per bag export tax on coffee.* Familiar sights in Brazil ever since have been huge grey-green piles of coffee beans smouldering slowly away under great smoke plumes, barges lumbering out to sea to dump coffee overboard, workmen mixing coffee and tar into briquets for building. Since 1931 these activities have destroyed 52,547,493 bags of coffee (almost 7,000,000,000 lb.), worth at last week's price of 9⅛per lb. some $638,750,000, and sufficient to supply every...
...deficit. Meanwhile, world coffee prices have notably failed to rise. From 20? a lb. in 1929, coffee fell to 7? in 1933. Highest level since has been 11½ touched early this year following a conference in Bogota which seemed to promise that Brazil might finally get some cooperation from other coffee producing nations. For that is the crux of the problem. While Brazil has rigorously and painfully sliced away at her own surplus, necessarily sacrificing some part of her share of the world market, rival nations, notably Colombia, have greedily continued to grow and sell more & more coffee...
...Last week, however, the Brazilian Government tired of playing Santa Claus, announced not only that production will no longer be limited but that the Brazilian coffee export tax will be cut some 75%. Said Finance Minister Arthur de Souza Costa: "It would be neither possible nor just that on Brazil only should fall the entire weight of its policy favoring...