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Raw Cotton (Deferred Delivery Contracts)

Volume 464: debated on Thursday 12 May 1949

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14.

asked the President of the Board of Trade whether he is aware that under present conditions foreign spinners are able to buy new crop cotton, Egyptian and American, at pence per pound lower than English spinners can purchase it from the Raw Cotton Commission, whose prices are based on old crop cotton; and whether, in view of the fact that this prevents British spinners from booking orders in competition with foreign spinners, he will instruct the Raw Cotton Commision to introduce deferred delivery contracts at the earliest possible date so as to prevent this situation continuing indefinitely.

I understand that the Raw Cotton Commission will shortly introduce a new form of deferred delivery contract giving spinners the advantage of new crop discounts.