ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Production Outpaces Demand

primary credit societies running at a loss increased continuously over the Third Plan. During 1965-66 alone, the number of societies earning profit declined by 7,559. In consequence, their aggregate profits also declined from crores in 1965-66.

Decline in Prices and Exports

and programmes. For instance, India is deficient in petroleum crude which it buys against hard currency. It can procure crude from Indonesia against rupee payment or on barter against iron and steel. Likewise, the essential requirements of coal in Burma, Ceylon and Malaysia could be underwritten by India against its requirements of rubber and tin.

Faith in Panaceas

Faith in Panaceas Lelanipunan Tea Price Stabilisation: The Indian Case by Himansu Roy; World Press, Calcutta, 1967; Rs 30.
THE authors avowed endeavour in this book is to stabilise the prices so as to ensure the growth of the industry without tears. He has formulated a plan for the "stable growth of the industry through re-orientation of its marketing organisations keeping in view the social objectives and the basic principles of our Five Year Plans". Before he postulates his "plan" in the final chapter of the book, he devotes several chapters to the various aspects of the industry including a detailed analysis of the working of the defunct International Tea Agreement and its shortcomings and also an analysis of the erroneous and pessimistic forecasts which the FAO has been making in recent years. Himansu Roy has evidently conducted a very thorough and painstaking study of the statistical trends in the international tea trade over a number of years and his statistical analyses are always interesting. The accuracy of his statistics is unquestioned and their sources amply quoted. Few will disagree with the author's basic views in respect of world production and demand. Some of the more significant of these views are as follows: (a) More and more countries will produce tea and competition amongst producers will be keener, (b) The market potential lies in developing countries, (c) The most vital problem is the problem of common tea. (d) The renewal of the International Tea Agreement with restricted participation is neither feasible nor desirable.

In Good Cheer

for the total of kharif and rabi procurement would be easier if, as expected, water is released from the Nagarjunasagar reservoir into the Krishna delta for the rabi crop. Furthermore, the acreage under the rabi crop can be substantially increased at least by next year if the controvert over the installation of crest gates in the Nagarjunasagar dam is satisfactorily resolved with the Maharashtra and Mysore Governments.

Quality in Danger

Quality in Danger Lelanipunan DEVALUATION of sterling by 14.3 per cent and the subsequent devaluation of the Ceylon rupee by 20 per cent have adversely affected the export market for Indian teas.

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