The twentieth plenary meeting of the International Cotton Advisory Committee (ICAC), Which was held in Tokyo from May 10 through 23, 1961, was attended by delegates from 34 member states and from nineteen nonmember countries. Mr. E. D. White, chairman of the Standing Committee, commented in presenting its annual report that 1960–1961 had been a good year for cotton, with production at a new high and consumption well sustained. The cotton surplus of former years had been reduced to more manageable proportions, he added, with the result that in many cases prices had become more favorable for producers. He stressed the importance of keeping under study factors that might influence the long-term prospects of cotton. The Executive Secretary of the Committee, Mr. Robert Evans, noted in his annual report that there had not been any agreements to stabilize cotton prices and markets for a number of years. While United States stabilization of its own markets and prices had done much to stabilize those of the rest of the world, it could also be argued that changes in United States policy had upset the world market.