Publisher's Synopsis
An introduction to the international primary commodities markets. The early part of the book deals with the geography of coommodity production and trade, price formation and price trends and the role of the commodity exchanges. Marian Radetzki goes on to examine the experience of producer cartels, the importance of supply security for users and the distorting impact of trade policies on international commodity markets. Finally he looks at the increasing role of public involvement in commodity production and the special problems confronting mono-economies, countries heavily dependent on one or a few commodities.;Throughout, the book is issue-oriented rather than product-oriented, and detailed examples from particular commodity markets are used throughout. While assuming only a basic knowledge of economics, Marian Radetzki aims to provide a thorough survey of this crucial component of the world economy.
