The total volume of Egyptian cotton exports rose by a whopping 94.3 per cent year-on-year during the second quarter of the 2014-2015 agricultural season, to reach 246,000 metric quintals, a leading Egyptian newspaper reported quoting a statement of the central agency for public mobilization and statistics (CAPMAS).
This compared to 126,600 metric quintals exported in the same period during the last season.
CAPMAS attributed the export increase to the low Egyptian cotton prices due to the increased inventory of cotton since the previous season.
“The total quantity consumed of local cotton rose by 115.5 per cent to reach 175,800 metric quintals during the period from December 2014 to February 2015, compared to 81,600 metric quintals in the same period of the previous season,” the statement said. “The increase is due to the direction of local spinning and cotton companies to decrease amounts of imported cotton.”
CAPMAS said the amount of ginned cotton has increased by 26.2 per cent to reach 1.3 million metric quintals during the period from December 2014 to February 2015, compared to one million metric quintals in the same period in the previous season.
