UN General Assembly
1976

162. It is thus obvious that maintaining price levels for sugar and other export commodities similar to those prevailing at the beginning of this decade would be, and they are indeed right now, simply ruinous to the countries whose national income and whose balance-of-payments depends substantially on them. It is in the light of this situation fraught with serious consequences for the development and the well-being of the less developed nations that we must in a broad spirit of international solidarity focus on the search for a solution which can and must be found within the framework of the negotiations towards a new International Sugar Agreement. However, pending the adoption of a new international instrument on this subject we must adopt measures which would henceforth prevent a greater disruption in the international prices of sugar.