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Egypt's cotton exports decline 40.6% in Sep-Nov 2012
20
Apr '13
The exports of cotton from Egypt declined by 40.6 percent in the first quarter of the current cotton season, i.e. September-November 2012, the Central Agency for Public Mobilisation and Statistics (CAPMAS) has announced.
 
During the three-month period, Egypt exported 1.374 million quintals of cotton, compared to earlier 2.313 million quintals of cotton exported during the corresponding period of the previous season.
 
CAPMAS attributed the decline in exports to the rise in global price of cotton.
 
The agency said domestic textile companies purchased 4.158 million quintals of cotton during the three-month period, a sharp 326 percent increase compared to the volume of cotton purchased by the local firms during the same quarter of previous season.
 
Egyptian cotton is counted among the world’s finest, but the country’s cotton industry has witnessed a decline during the past two decades.
 
Recently, Ahmed Ayyad, who heads the cotton division of the Chamber of Commerce, stated that the Government is making efforts to boost cotton production in the country. He also said the Government has entered into an agreement to export Egyptian cotton to over 50 countries.
 

Fibre2fashion News Desk - India

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