TeachMeFinance.com - explain Export allocations or quotas
Export allocations or quotas The term 'Export allocations or quotas ' as it applies to the area of agriculture can be defined as ' Controls applied to exports by an exporting country to limit the amount of goods leaving that country. Such controls usually are applied in time of war or during some other emergency requiring conservation of domestic supplies, as well as to advance foreign policy and national security objectives of the exporting country. The European Union, in 1996, used a licensing system to allocate and restrict exports of wheat because of short supplies and high prices'.
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