Disturbing Move

worth reporting about cotton. The turnover is extremely restricted, this being the fag-end of the season. Prices continue to be quoted susbtantially above the statutory ceilings, with unofficial premiums ranging between Rs 150 and Rs 450 per candy, depending on the quality of cotton. The more well-to-do mills never really care to think that self-restraint and discipline in the purchase of raw materials could considerably help the cause of the marginal and uneconomic units which the industry continues to champion with great zeal. And the Government seems not the least bothered that the control order is being openly violated. A complete mess, really! The current season has only two months more to go. Since increased mill consumption and larger exports during the season are likely to be more or less offset by larger imports, the carry-over at the end of August is unlikely to be smaller compared to the carry-over stocks at the beginning of the season. In any case, the difference will be marginal. But since the stocks will consist of larger quantities of foreign cotton than Indian cotton, it could create considerable hardship for mills which depend almost entirely on indigenous cotton.