March 3, 1973 new crop. Since sales failed to pick up, it reduced its prices in December and cotton prices have been receding from December onwards. The Centre has agreed to share CCFs losses to the extent of 75 per cent The price trend has been unmistakable. Between January 1972 and January 1973, the index of cotton prices (1961-62 = 100) declined from 214 to 193, i e, by 10 per cent, even as jute prices have increased by 21 per cent and prices of all commodities by 12 per cent. When there is an all-round increase in prices, how is the steady fall in cotton prices to be explained? Meanwhile, it is MSCMF and CCI which are in for the heavy losses.
