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 Largest Metro Station in the Middle East to Be Inaugurated on Sunday

Egyptian StreetsOctober 19, 2019

Egypt’s Pope Tawadros Opens Coptic Orthodox Church in Belgium

Egyptian StreetsOctober 19, 2019

Stormy Lebanon Protests Triggered by Tax Decisions and Austerity Measures

Egyptian StreetsOctober 18, 2019

Former Egyptian President Hosni Mubarak Shares War Memories in Rare Appearance

Egyptian StreetsOctober 15, 2019

New IMF Chief Hails Egypt’s Economic Reforms

Egyptian StreetsOctober 15, 2019

Uncontrollable Wild Fires in Lebanon Force Residents to Leave their Homes

Egyptian StreetsOctober 15, 2019

Sisi Blames Renaissance Dam Crisis on January 25th Uprising: Egypt Bared Its Back and Shoulder in 2011

Egyptian StreetsOctober 15, 2019

Political Elite Outsider Kais Saied Elected As Tunisia’s President

Egyptian StreetsOctober 14, 2019