News

Egypt’s Cotton Exports ‘Increase By 94 Percent’

Egypt’s Cotton Exports ‘Increase By 94 Percent’

An Egyptian farmer collects the cotton harvest at a farm in al-Massara village near the Nile delta city of Mansura, north of Cairo. (Photo: AFP - Khaled Desouki)
An Egyptian farmer collects the cotton harvest at a farm in al-Massara village near the Nile delta city of Mansura, north of Cairo. (Photo: AFP – Khaled Desouki)

Total Egyptian cotton exports rose by 94.3 percent year on year, in the period from December 2014 to February 2015, the national statistics agency reported on Monday.

The Central Agency for Public Mobilisation and Statistics said in a statement that the increase is the result of a dip in cotton prices because of excess cotton from last season.

Local consumption of cotton rose by 115.5 percent in the second agricultural quarter, compared to the same period in the previous year.

This rise in cotton consumption and export rates comes after the Egyptian government lifted cotton subsidies completely at the beginning of 2015. The subsidy cost the government $550 million in the last season it was applied.

Egypt has long been famous for its unique long staple cotton, especially under the British colonial rule.

The government said it lifted the subsidy because cotton planting and especially that of long staple “is very expensive” and is no longer as demanded as it was in the past, whether on local or international markets.

Egypt Arrests Female 'Dancer' For 'Inciting Immorality' in Music Video
Policeman Sentenced to Life in Prison for Raping Mentally Ill Teenager in Egypt

Subscribe to our newsletter


News
@AswatMasriya_En

Aswat Masriya is a Thomson Reuters Foundation-sponsored website that covers Egypt's transition to democracy. en.aswatmasriya.com

More in News

Egypt’s Foreign Minister to Head to Washington to prepare for Al-Sisi’s visit

Egyptian StreetsFebruary 24, 2017

After Saudi Arabia Turned it Down, Iraq to Supply Egypt with 1 Million Oil Barrels a Month

Egyptian StreetsFebruary 24, 2017

Alexandria’s Governor Intervenes to Save Sea Turtles from Illegal Poaching

Egyptian StreetsFebruary 24, 2017

Egypt is Arming South Sudan: President Omar al-Bashir

Egyptian StreetsFebruary 23, 2017

Egypt Plans to Implement ‘Electronic Visa Application System’ to Attract More Tourists

Egyptian StreetsFebruary 23, 2017

Two Christians Killed by Militants in Egypt’s North Sinai amid Growing Attacks on Copts

Egyptian StreetsFebruary 23, 2017

#StopTheWait: Messi Visits Egypt to Promote Affordable Hepatitis C Treatment and Tourism

Egyptian StreetsFebruary 22, 2017

More Visas for Less African Immigrants: Europe’s Offer to Egypt

Aya NaderFebruary 22, 2017
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2017 ES Media UG. All Rights Reserved.