A general agreement on commodity organization : A ‘GATT for primary commodities’

Having reponded to various crises since the Paris Sugar Convention 1864, the process of international commodity organization is now recognized as a positive means of securing expansion of world trade and of bringing about development in producing countries. But these objectives necessitate multi-dimensional measures. The supply-management techniques, hitherto the pivot of international commodity agreements, have proved to be inadequate. It is argued in this article that the trade and development objectives can be better achieved by the provision of varied measures; that a ‘GATT for primary commodities’ is among such measures; and that such an organization does not negate, but supplements, the existing system.