TeachMeFinance.com - explain International commodity agreement
International commodity agreement The term 'International commodity agreement ' as it applies to the area of agriculture can be defined as ' An undertaking by a group of countries to stabilize trade, supplies, and prices of a commodity for the benefit of participating countries. An agreement usually involves a consensus on quantities traded, prices, and stock management. For example, the United States was a party to the International Natural Rubber Agreement'.
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