(AFP PHOTO/KHALED DESOUKI)
The total volume of Egyptian cotton exports rose by 94.3% year-on-year during the second quarter (Q2) of the 2014-2015 agricultural season, to reach 246,000 metric quintals, according to a Central Agency for Public Mobilization and Statistics (CAPMAS) press statement Monday.
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% 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 read. “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% to reach 1.3m metric quintals during the period from December 2014 to February 2015, compared to lm metric quintals in the same period in the previous season.
The statement said the increase to meet the needs of spinning companies for local cotton was due to the decrease in quantities of imported cotton.
The amount of composting cotton has increased by 37% to reach 1m metric quintals during the Q2 of the 2014-2015 agricultural season, compared to 0.7 m metric quintals the previous period due to the rose of cotton exports, according to the statement.
