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The Secret Financial Life of FoodFrom Commodities Markets to Supermarkets$
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Kara Newman

Print publication date: 2014

Print ISBN-13: 9780231156714

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231156714.001.0001

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The Mochaccino Market

The Mochaccino Market

Coffee, Sugar, and Cocoa

Chapter:
(p.77) Chapter Six The Mochaccino Market
Source:
The Secret Financial Life of Food
Author(s):

Kara Newman

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231156714.003.0006

This chapter reviews the history of commodity exchanges trading coffee, sugar, and cocoa. Much of the earliest trading of coffee (and other commodities) took place in coffeehouses. It is impossible not to make a mental leap to modern-day coffee shops and Starbucks franchises, where many a fledgling business is launched these days. Furthermore, most of the ingredients in the iced double cappuccinos fueling those entrepreneurial pursuits are affected by commodities market trade. Multinational conglomerates, like Nestlé and J. M. Smucker (owner of Folgers Coffee), certainly avail themselves of the commodities exchanges to help buffer against the price swings that can drive up the cost of their key ingredients (and cut into operating profits). The story of the coffee, sugar, and cocoa markets can be traced to the East Coast, and to New York in particular. Of the triumvirate that would one day compose the Coffee, Sugar, and Cocoa Exchange (CSCE), the New York Coffee Exchange was established first, followed by the New York Coffee and Sugar Exchange and the New York Cocoa Exchange.

Keywords:   commodity exchange, coffee, sugar, cocoa, coffeehouses, commodities market, New York, Coffee Exchange, Coffee and Sugar Exchange, Cocoa Exchange

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