It is also hoped, however, that this week's meeting will permit progress in dealing with indicated surplus of supplies for the quota year beginning in September. The surplus may be put roughly at 600,000 tons. The Council has no power to eliminate it by quota cuts. It will be necessary, therefore, for the various exporting countries to make surrenders of quotas to balance exports with free market requirements.
Although it will be difficult at this stage to formulate an accurate estimate of free market requirements for the third quota year, an interchange of views between the various delegations may lead to agreement on the relative sacrifices of quotas which each exporting country should make in order to ensure elimination of the indicated surplus.
Text read from the printed page and cleaned; old type leaves the occasional error.