Introduction

“The commodity problematique continues to be of major concern in the twenty-first century, as the commodity sector constitutes the key economic activity in most Commodity Dependent Developing Countnes (CDDCs) in terms of foreign exchange earnings, fiscal revenues, income growth, employment creation and livelihood sustenance for over 2 billion people dependent on the agricultural sector. Out of 151 developing countries, 100 depend on commodities for at least 50 per cent of their export earnings; moreoverhalfofthe countries in Africa derive over 80 per cent of their merchandise export income from commodities. As many developing countries, especially least developed countries (LDCs), are heavily dependent on commodities, the international community cannot effectively attain the Millennium Development Goals (MDGs), including combating poverty, without taking into account the imperative of commodity-based development. The policy challenge for commodity-exporting countries can be best illustrated by recent developments such as commodity prices reaching historical peaks in 2008, followed by a collapse until the first quarter of 2009. However, since the 1960s and 1970s, it is only recently that the commodity problematique has featured significantly in international development discourse (e.g. the French presidency of the G20 during 2011).]

Sustainable Development Goals:

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions