Circulating in Latin American capitals last week was a gloomy report labeled "For Governments Only." Subject: coffee. Gist of the document, drafted by an Inter-American Economic and Social Council committee: a growing surplus threatens to bring a disastrous slump in world coffee prices unless the governments concerned take drastic action.
Coffeemen already knew that a menacing surplus was piling up (TIME, June 20). What surprised them was the fact that the U.S. State Department's representative on the committee joined the Latin experts in signing a report calling for export quotas and stockpiling...
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