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Coffee Prices #244837

CBS Evening News for Sunday, Mar 14, 1976
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(Studio) House Agriculture subcommittee to hold hearings on coffee price increase
REPORTER: Bob Schieffer

(DC) Americans consume 40% of world's coffee. Price increase noted. In July, Brazil's coffee bushes hit by frost and produced lower yield. Brazil coffee fields shown. [Chairperson House Agriculture subcommittee Joseph VIGORITO - says consumer taken advantage of 1 year ahead of time.] [Coffee industry spokesperson George BOECKLIN - says prices always go up when there is damage to crop.] Value of coffee beans already on hand went up after news of frost broke. Coffee companies up price because they say producing cntrys. charging them 60% more. [Coffee processor Robert San FILIPPO - says more price increases probable.] General Foods and Proctor and Gamble sell 60% of American coffee. [House Agriculture subcommittee Margaret HECKLER - says must find out if there's real industry competition. FTC (Federal Trade Commission) should exam. situation.]
REPORTER: Mitchell Krauss

(New York) Ind. blames nature and producing ntns. for higher prices.
REPORTER: Mitchell Krauss

Reporter(s):
Krauss, Mitchell;
Schieffer, Bob
Duration:
00:02:50

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