Home > Term: international commodity agreement
international commodity agreement
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.
- Part of Speech: noun
- Industry/Domain: Agriculture
- Category: Agricultural programs & laws
- Company: USDA
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