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Michael Kuczynski

DEVELOPMENTS on the international cotton market are decisively affected by the cotton policy pursued by the United States, the largest single producer, consumer, and exporter of raw cotton. The world market price for cotton of the so-called American upland type, which is of medium-staple lengths and comprises about 85 per cent of output of all types of cotton outside the Sino-Soviet area, is closely related to the price at which U.S. cotton is sold for export; the prices of other types of cotton respond to some extent to changes in the price of American upland, though these price movements are by no means always closely correlated.