Baffes, JohnNagle, PeterStreifel, Shane S.2025-08-082025-08-082024-06-13The World Bank Research Observer0257-3032 (print)1564-6971 (online)https://hdl.handle.net/10986/43569Throughout the 20th century, countries sought to mitigate the adverse effects of boom-and-bust cycles in commodity prices through international supply management initiatives aimed at maintaining high and/or stable prices. Post-World War I efforts targeted commodities like coffee, copper, wool, and tin, while the Great Depression prompted agreements on tea, natural rubber, sugar, coffee, and copper. Subsequent arrangements in the post-World War II era and the 1970s involved both producers and consumers of tropical commodities and metals. Although some agreements achieved their goals temporarily, all eventually ended or collapsed, often exacerbating price volatility. OPEC stands out for its longevity but faces similar challenges. Historical experiences caution against relying on such agreements, though coordinated action may be justified during periods of significant market stress. These lessons are particularly relevant today as producers of metals and minerals used in renewable technologies may consider forming price-influencing agreements, which, despite potential short-term success, would likely encounter the same issues that undermined earlier efforts.en-USCC BY-NC-ND 3.0 IGOINTERNATIONAL COMMODITY AGREEMENTSOPECSUPPLY CONTROLSINVENTORY MANAGEMENTJournal ArticleWorld Bank