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(Studio) Coffee prices in supermkts. across country now at more than $3 per lb. and to go higher.
REPORTER: Roger Mudd
(DC) General Foods announces wholesale price increase; increases in wholesale and retail prices of Maxwell House ground, instants Yuban and Sanka. Proctor and Gamble, makers of Folger's Coffee, raised prices comparably 2 weeks ago. New York Representative Benj. Rosenthal has read classified State Department economy analysis of International Coffee Agreement, signed by United States in 1976, and says it's damaging to US consumers and blames State Department in part for increase in prices. [ROSENTHAL - says State Department hasn't tried to get Brazil to reduce prices and has even helped increase them.] Assistant Secretary of State Julius Katz says agreement has nothing to do with higher prices. General Foods won't say when next increase will be; last was 12 days ago.
REPORTER: Lesley Stahl
- Mudd, Roger;
- Stahl, Lesley
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