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Raw Cotton (Deferred Delivery Contracts)

Volume 465: debated on Thursday 26 May 1949

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88.

asked the President of the Board of Trade if he can now announce when the Raw Cotton Commission will introduce their new form of deferred delivery contract.

95.

asked the President of the Board of Trade, in view of the fact that the high prices of raw materials are a severe handicap to the export of British textiles, what steps are to be taken by his Department to ensure that the cotton industry will receive the maximum advantage from the lower prices which are being quoted for new crop cotton.

The Raw Cotton Commission, after negotiations with the spinning interests concerned, is planning to introduce a new form of cover scheme for spinners from the beginning of the new cotton year in August. This scheme will include full facilities for deferred deliveries, both at fixed prices and "on call." The Commission is also investigating the possibility of introducing almost immediately an interim arrangement to enable advantage to be taken of the current discount in new crop prices.