In the 1920s, the preoccupation with post-war recovery and the impact of a rather short lived boom and slump, followed by a new era of prosperity (which in the views of many was expected to last much longer than it did), provided relatively little incentive for intergovernmental action on international commodity problems, although there were some, mainly producers’, agreements. In the early 1930s, on the other hand, the disastrous effects of the Great Depression on consumer purchasing power and on the incomes of primary producers, underlined the need for some form of intergovernmental arrangement for staple foodstuffs. At the same time, the results of important new advances in the science of nutrition were widely propagated. This led to the discovery that the incidence of chronic malnutrition, with harmful effects on health, was widespread, even in relatively high-income countries, and particularly among children and other vulnerable groups. Following the Great Depression, when markets for staple foods were glutted and producers faced ruin, the growing recognition of the widespread character of nutritional deficiencies strengthened the conviction that there was something wrong with the recurring manifestations of ‘poverty in the midst of plenty’ and that solutions should be sought through the selective expansion of food consumption rather than through the curtailment of output that had been previously practiced. Furthermore, the basic cure of under-consumption had to be seen in the promotion of measures designed to raise the real incomes of needy people.