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COMMODITY SUPPLY MANAGEMENT BY PRODUCING COUNTRIESA Case-Study of the Tropical Beverage Crops$
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Alfred Maizels, Robert Bacon, and George Mavrotas

Print publication date: 1997

Print ISBN-13: 9780198233381

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198233381.001.0001

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Summary of Findings and Policy Implications

Summary of Findings and Policy Implications

Chapter:
(p.93) Summary of Findings and Policy Implications
Source:
COMMODITY SUPPLY MANAGEMENT BY PRODUCING COUNTRIES
Author(s):

Alfred Maizels

Robert Bacon

George Mavrotas

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198233381.003.0007

As trade in their exports deteriorated, the developed countries incurred sizable foreign exchange losses since the early 1980s. Between 1980 and 1993, the cumulated loss reached more that $105 bn., or higher than six times the total beverage shipments' value in 1980. The terms of trade of tropical beverages saw an even more rapid decline after 1985 as annual loss rose from $3.6 bn. to $13.7 bn. between 1989 and 1991 and $15.9 bn. between 1992 and 1993. The high increase in rate of loss is associated with the collapse of the cocoa and coffee agreements. Moreover, the markets for both coffee and cocoa experienced disequilibrium since high levels of unsold stock accumulated. This chapter summarizes the findings of this evaluation, as well as illustrates policy implications.

Keywords:   foreign exchange, policy implications, trade, annual loss, terms of trade, disequilibrium, unsold stocks

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