Commodity Notes No. 3
Publisher: GATT-Fly, Toronto, Canada
Periodical profile published 1977
Year Published: 1977
Resource Type: Serial Publication (Periodical)
Cx Number: CX229
Examination of international trade activities in regard to copper, sugar, tin, and the repression of Peruvian fishermen.
Abstract: This issue critically examines international trade activities in regard to copper and copper talks, sugar, tin and the repression of Peruvian fishermen by Peru's rightist government. It also includes the October 1976 UNCTAD graph record of the monthly average prices of cocal from 1973 to 1976.
The notes report the failure of the September meeting of the Integrated Programme to make any progress on specific measures necessary for a copper agreement or on UNCTAD's proposal for an Integrated Programme for Commodities. In the end, an adhoc group was set up to study the eleventh hour Resolution for commodity trade reform reached earlier in Nairobi. Sugar: the next International Sugar Conference will take place April 18, 1977. Tin: within International Tin Council (ITC), the price ranges could be affected by decisive votes on the part of the producer nations such as Malaysia and Bolivia, and by the opposing votes of consumer members such as the United States and the British London Tin group of companies that have extensive tin mining interests in Malaysia.
Copper: the fluctuations of copper prices over the past several months lend more urgency to action on stabilizing copper prices. The high price earlier in 1976 was founded on several expectations that were not realized, such as a slow pickup of the world economy. The biggest obstacle to a price rise, however, is the large and increasing copper stocks of consumers, especially in the London Metal Exchange.
Peruvian Fishermen: have been the target of repression by Peru's military rightist government through the denationalization of the anchovy fleet, which has been the biggest in the world and has generated about 13% of total export revenues in the past three years. In addition, more than 200 union leaders have been jailed and subjected to torture, hundreds of workers have been fired, local union centres searched and leaders of the workers detained and persecuted. These injustices have not occured without protest both by the Communist and Christian Democratic trade union federtions and by the Peruvian bishops.