International Wheat Council

International Wheat Council Outline

The first International Wheat Agreement, which was made in 1933, set out export quotas to control the wheat market. The agreement came to an end in 1935. The International Wheat Council was set up in 1942. Its headquarters are in London. Another International Wheat Agreement was concluded in 1949. This agreement expired in 1953. Subsequent agreements were made in 1953, 1956, 1959 and 1962. In 1967, the International Grains Arrangements were made and the Wheat Trade Convention and the Food Aid Convention were created. The 1971 agreement retained the Wheat Trade Convention and Food Aid Convention. This agreement was renewed in 1974, 1977, 1979 and 1982.
The agreement regulated the wheat market by setting out exporting or importing quotas, or the maximum prices of wheat.
The present International Wheat Agreement was made in 1986. It consists of two conventions: the Wheat Trade Convention and the Food Aid Convention. The Wheat Trade Convention does not regulate the price of wheat. Nor does it adopt any particular measures of control. It is now more like a monitoring body of the world wheat market. The Food Aid Convention requires its members to make contributions annually for the purpose of aiding countries suffering from food shortages or various disasters. The International Wheat Council is the administrative body of the conventions. Its main function is to provide information and coordinate the activities of the members. Since 1991, it has had power to renew the conventions continuously for a period of up to two years. The International Wheat Agreement has about 47 members.(1)

Resources

Notes

1. John Mo, International Commercial Law

International Wheat Council in relation with International Trade

In the context of trade organizations, Christopher Mark (1993) provided the following definition of International Wheat Council: An international commodity agreement (Sec. I) established in 1949 to stabilize international trade in wheat and flour. Various wheat agreements (of 1949. 1953, 1956. 1967. 1971. and 1986) were implemented by the organization. Exporting members are Argentina, Australia, Austria. Belgium. Canada, Denmark. the European Community , France. Germany. Greece, Hungary , Ireland, Italy. Luxembourg, Netherlands, Portugal. Russia, Saudi Arabia, Spain. Sweden. the United Kingdom, and the United States. Importing members include Algeria, Barbados. Belgium. Bolivia. Brazil. Cuba. Denmark, Ecuador, Egypt, the European Community. Finland, France. Germany, Greece, India, Iran. Iraq. Ireland, Israel, Italy, Japan, Korea. Luxembourg, Malta. Mauritius. Morocco. Netherlands. Norway, Pakistan. Panama, Portugal. Russia, Spain. South Africa. Switzerland. Tunisia, Turkey, Vatican City, the United Kingdom, and Yemen. (The EC, EC member states, and Russia have dual status as importing and exporting members. ) The Council is based in London.