International Cotton Advisory Committee

The second session of the twelfth plenary meeting of the International Cotton Advisory Committee was held in Washington from November 2 to 12, 1953. The first session, held in Washington from May 4 to 5, 1953, had been concerned with budgetary matters and the exchange of information. Representatives of 28 members of the committee as well as observers from 24 non-member governments and six international organizations were present at the second session which considered a technical study proposing three possible types of international cotton agreements: 1) a multilateral contract, under which quantitative quotas and minimum and maximum prices for each importing and exporting country would be established; 2) a buffer stock agreement, which would also set floor and ceiling prices for cotton and under which there would exist buffer stocks, held by member governments or by an international agency which would be built up in times of surplus and drawn on in times of shortage; 3) a combination of 1) and 2). The meeting failed to agree on any of these, and referred the question to the standing committee for further study. Other resolutions of the committee at this meeting included recommendations to the standing committee to study means of increasing cotton consumption to close the ten percent gap between production and consumption, and to circulate information about the terms of external trade of cotton importing and exporting countries, and a recommendation to the secretariat to begin publishing textile statistics. E. D. White (United States) was reelected chairman of the standing committee. In closing, the session accepted the invitation of the government of Brazil to hold its next plenary meeting in Sao Paulo.