UN General Assembly
1973

126. As regards commodities, though we may be gratified at the clear improvement that was felt late in 1972 and the first six months of 1973 in world markets in those commodities, we are bound to recognize that the surge in prices has benefited only the transnational corporations — and, therefore, the developed countries-and not the producer countries. The rise occurred after several successive years of depressed rates and could have represented an important contribution to the economies of the exporting countries. My delegation hopes that in the light of those rates and of a more equitable level for producer countries, existing agreements will be reconsidered for the purpose of guaranteeing exporting countries fairer prices than those contained in the agreements. 127. In spite of the temporary rise in prices of certain commodities, the prices of other commodities-including tea, bananas, lemons and manganese — have remained at their low levels.