Cotton exports increases by 6.9% in Egypt
The Central Agency for Public Mobilisation and Statistics (CAPMAS) has disclosed that cotton export for the third quarter (Q3) of March and May for the agricultural season 2017/2018, saw an increase of 6.9%.
According to CAPMAS, the amount of the exported cotton during the period from March to May 2018 reached 160.100 versus 149.700 meter qintars (MQ) for the same period of the previous season.
The bulletin affirmed that the total amount of consumed domestic cotton reached 39.200 MQ in the Q3 of the agricultural season 2017/2018 versus 93.000 MQ for the same period of the previous season with a decrease of 57.9%.
CAPMAS further explained that this decline is due to the trend of spinning factories that use imported cotton.
The statistics agency finally added that the amount of ginned cotton reached 47.700 MQ during the period from March to May 2018 versus 55.800 MQ for the same period of the previous season, with a decrease of 14.4%.
Remarkably, Egypt is the world’s second largest exporter of long-staple cotton, used mainly to produce luxury linens, behind the United States.
Related Posts
OmniBSIC Bank Ghana Partners with GACL and EPA to Promote ESG Practices
OmniBSIC Bank Ghana continues to demonstrate its commitment to sustainable Environmental, Social, and Governance (ESG) practices by partnering…
ByMponua Rural Bank Achieves Record Profit of GH¢5.4 Million in 2023
Mponua Rural Bank has reported a remarkable profit of GH¢5.4 million for the 2023 financial year, representing a…
GCB Bank Partners with Visa to Launch Exclusive Premium Cards
GCB Bank Plc, Ghana’s largest commercial bank, has announced a strategic partnership with Visa, a global leader in…
Ghana’s LPG Consumption Rises by 4% in 2023 Amid Economic Rebound
Despite significant challenges in 2022, Ghana’s Liquefied Petroleum Gas (LPG) consumption increased by 4% in 2023, according to…
Gallery
