Recurring shortages followed by gluts in the commodity markets, and their counterparts in price instability, have long been a problem for both developed and developing countries. The problem has, of course, been far more important for developing countries, many of whom are heavily dependent on primary commodities for income and export earnings. A continuing decline in prices can, on the other hand, be calamitous for many developing countries. Commodity problems, as such issues have often been called, have occupied an important place in debates in the world organization in the economic area.
KeywordsCommodity Price Commodity Market Export Earning Buffer Stock International Economic Order
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