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(Studio) 2 House subcmtes. open hearings today with regard to coffee price rise.
REPORTER: Roger Mudd
(DC) Representative Fred Richmond cites State Department cables and says Brazilian farmers stockpile coffee to force prices up and that Brazil government has inflated prices by hiking export taxes. State Department says it's only market at work. [Assistant Secretary of State Julius KATZ -says demand just high and people pay asking price.] Some Congmen. ask about using military or other aid to Brazil to negotiate with regard to prices. [Representative Benjamin ROSENTHAL - asks if US could have tried negotiation.] [KATZ - says it could have been tried, but isn't in economy system nor has government suggested it.] Katz says boycott wouldn't offset prices soon enough to be meaningful.
REPORTER: Lesley Stahl
- Mudd, Roger;
- Stahl, Lesley
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