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

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COTTON- The Cost of Clothing the Rich

October 13, 1973 The Cost of Clothing the Rich M G Pavaskar NEVER in the past have world cotton prices risen as they have at present. The rise in cotton prices has been bewildering, especially that ;n the prices of Egyptian and Sudanese extra-long staple varieties of 1,3/8" and over, Ar the first auction of this year held on September 25, the f o h price of Giza 45 ranged between Rs 9.535 and Rs 10,375 per candy of 356 leg each. This was more than two-and-a-half times the price of this cotton at the opening auctions last year, To an Indian importer, the price of this cotton would be higher still. For, the import duty of 40 per cent levied in the last budget would entail an additional burden of nearly Rs 4,150. To this .should be 'added a freight charge of Rs 155, insurance of Rs 60, contribution to ICMF export promotion fund of Rs 950, commission of Rs 155 and other forwarding expenses of Rs 550. Thus, the final cost of Giza 45 Egyptian cotton to Indian importers would work out to a fabulous, all-time high of Rs 16,400 per candy

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