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Egypt's cotton exports surge 51.8% in March-May'13
18
Sep '13
The exports of cotton from Egypt increased sharply by about 51.8 percent during March-May 2013 period, according to the data from the Central Agency for Public Mobilization and Statistics (CAPMAS).
 
Egypt exported 351,700 tons of cotton during the three-month period compared to exports of 231,800 tons made during the same period last year, CAPMAS said in its quarterly newsletter for the third quarter of the 2012-13 agricultural year.
 
Meanwhile, the consumption of cotton by domestic spinning and weaving mills registered 346,200 quintals in March-May 2013 period, registering a decline of 1.7 percent compared to domestic consumption of 352,300 quintals during the corresponding period of previous year.
 
The consumption of imported cotton during the period under review also declined by 6.3 percent to 21,800 quintals from import of 23,200 quintals during the same period previous season.
 
CAPMAS attributed both the decrease in domestic consumption of cotton as well as cotton imports to the closing down of a number of spinning and weaving factories due to political instability in the country.
 
During the period under discussion, the total quantity of cotton ginned nosedived 67.2 percent to 490,000 quintals from 1.48 million quintals ginned during the previous season. The huge decline in amount of ginned cotton was attributed to stockpiling of large amounts of cotton last year.
 

Fibre2fashion News Desk - India


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