Originally published in 1987, this book discusses the key issues concerned with primary commodity trade worldwide. Primary commodities are crucially important for many developing countries because very often exports in just one or two primary commodities form the sole source of income for a developing country. Developing countries need above all stability in primary commodities trade to guarantee their future development. This book examines patterns of trade, changing demand and the effects of fluctuations in spot and futures markets. It analyses theories put forward to explain the problems and it reviews the research of the many international organisations which are concerned with the problems. It examines the international agreements and bodies which have been set up to stabilise trade and assesses the performance of these agreements and organisations.