By David Lea
An in-depth survey of the key commodities of the area * Profiles each one commodity intimately * presents in-depth information on creation * comprises a useful listing Contents: * Introductory essays * Covers all significant agricultural and mineral items together with aluminium, coal, cotton, nickel, petroleum, bananas, rice, rubber, tea, espresso, tobacco, wheat, normal fuel, soybeans, zinc, lead and phosphates * each one commodity is profiled intimately with info on actual visual appeal, background, makes use of, significant markets, tendencies well known, significant importers and exporters * Statistical information of modern degrees of construction at an international and person state point * fresh traits in costs with indexes of export costs * A listing of agencies interested by commodities.
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Sample text
In 2000 the country’s seven smelters (including five in the private sector) had a combined annual capacity of 825,000 tons, while output of aluminium ingots in that year was about 560,000 tons. As part of its expansion plans in the late 1990s, NALCO was increasing the capacity of its smelter at Angul, in Orissa, from 218,000 tons to 345,000 tons. Work on this project was due to be completed by mid-2002. NALCO’s output in the year to March 1999 was only 146,205 tons (compared with 200,162 tons in 1997/98).
These distortions take many forms, from high tariffs that often escalate as a commodity moves up in the value-added chain, to domestic production and export subsidies, to quantitative restrictions (QRs). The latter can range from outright import bans on certain commodities, to quotas on imports, to specifying quality requirements that are extremely difficult for a poor developing country to achieve. Trade in agriculture was and continues to be subjected more than that in any other sector to these distortions.
The historic experience of various developing countries has shown that an inward-looking, protectionist policy does not promote economic growth, whereas a liberal trade regime with appropriate domestic policies can promote economic growth and development. Multilateral trade agreements such as the WTO agreements seek to remove the various distortions that exist in the international trade regime. While the current set of agreements and their implementation has tremendous scope for improvement, the primary objective in future trade negotiations should be the removal of these anomalies, with a view to promoting economic growth and development in poor countries.