The objectives of this Agreement take into account the recommendations as contained in the Final Act of the first session of the United Nations Conference on Trade and Development and are:

(a) to alleviate serious economic difficulties which would persist if adjustment between the production and consumption of cocoa cannot be effected by normal market forces alone as rapidly as circumstances require;

(b) to prevent excessive fluctuations in the price of cocoa which affect adversely the long-term interests of both producers and consumers;

( c) to make arrangements which will help stabilize and increase the export earnings from cocoa of producing countries thereby helping to provide such countries with resources for accelerated economic growth and social development, while at the same time taking into account the interests of consumers in importing countries;

(d) to assure adequate supplies at reasonable prices, equitable to producers and consumers; and

(e) to facilitate expansion of consumption and, if necessary, and insofar as possible, an adjustment of production, so as to secure an equilibrium in the long term between supply and demand.