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

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The decline in prices is to be greatly welcomed. Cotton is a major element in the cost of cloth which is not only a basic necessity of life but is also a valuable foreign exchange earner. The turnover in cotton continues to be very poor. It is not just that mills are inclined to hold off the market in the hope of lower prices but there is very little left of old cotton to be marketed and the supply of new crop is extremely restricted. It is only the early maturing crop which is on the market. The normal crop is some five weeks late Uncertainty continues about the future of futures trading. The issue came up for consideration at the October 4 meeting of the standing committee of the Cotton Advisory Board but serious discussion was again postponed to November when a final picture would have emerged of the new crop. Industry's attitude to hedge trading is not warm and the Government's quite cold. But if hedge trading is not to be permitted even when the crop is normal and the ceiling has been lifted, then Government had better inform the East India Cotton Association that it is firmly opposed to hedge trading in cotton so that the Association can make a more profitable use of its big trading ring

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