Commodities A/RES/74/204 positive socioeconomic transformation in Africa within the next 50 years, its continental programme embedded in the resolutions of the General Assembly on the New Partnership for Africa’s Development, and regional initiatives, Reaffirming also that, in the Addis Ababa Action Agenda, Heads of State and Government expressed concern about the excessive volatility of commodity prices, including for food and agriculture, and its consequences for global food security and improved nutrition outcomes, noted the Agricultural Market Information System hosted by the Food and Agriculture Organization of the United Nations and called for the provision of access for small-scale artisanal fishers to marine resources and markets, consistent with sustainable management practices as well as initiatives that add value to outputs from small-scale fishers, and noting that, in The State of Food Security and Nutrition in the World 2019: Safeguarding against Economic Slowdowns and Downturns, the Food and Agriculture Organization highlighted that 80 per cent of the countries – 52 out of 65 – with a rise in hunger and an increase in undernourishment during recent economic slowdowns and downturns are countries whose economies are highly dependent on primary commodities for export and/or import, Recalling the outcome of the fourteenth session of the United Nations Conference on Trade and Development, 13 and taking note of the decisions and agreed conclusions on commodities adopted by the Trade and Development Board and its subsidiary bodies, Taking note of the United Nations Conference on Trade and Development Commodities and Development Reports, its State of Commodity Dependence reports and its note on commodity dependence and the Sustainable Development Goals, noting the role that the Conference has been playing as an institution in looking at the interaction between commodity markets and economic development and in the elaboration of the concept of commodity-dependent developing countries, Underlining the importance of advancing sustainable consumption and production patterns, Noting with concern that the prices of most commodities exhibited a downward trend, driven by a variety of factors relating to supply and demand and changing inventories, Recognizing that commodity price volatility, including excessive volatility, can have adverse impacts on both producer and consumer countries, particularly in commodity-dependent countries, and noting with concern that this can undermine their development efforts, as it could discourage investment, widen trade deficits and aggravate household poverty, Noting that commodity price movements have both macroeconomic and microeconomic implications for commodity-dependent developing countries, as well as net commodity-importing developing countries, and further noting that rises in commodity prices may contribute to improvements by exporting countries in their export and fiscal revenue, allowing them to increase current and capital government expenditure, and that, by contrast, a decline in commodity prices may lead to shortfalls in export and fiscal earnings and the inability of Governments to deliver basic goods and services, Expressing concern that the global economy has yet to recover completely and remains in a challenging phase, notwithstanding the recent cyclical pickup in global economic activity, that growth remains weak in many countries and includes subdued trade growth, volatile capital flows, widespread fiscal strains and unsustainable debt __________________ 13 19-22417 See TD/519, TD/519/Add.1, TD/519/Add.2 and TD/519/Add.2/Corr.1. 3/8