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
New: KenGen Green Energy Park Attracts Sixth Investor in Naivasha
Kenya Electricity Generating Company (KenGen) has welcomed a sixth investor to its Green Energy Park in Naivasha, reinforcing the facility’s…
By
Coronation Merchant Bank Appoints New CEO
Coronation Merchant Bank has appointed Obeahon Ohiwerei as its new Managing Director and Chief Executive Officer following a no-objection approval…
BUA Foods Eyes Market Leadership with new Multi-Billion Expansion Programme
BUA Foods has unveiled the largest investment programme in its history as it seeks to become Nigeria’s biggest…
New: Investor Confidence Drives Access Bank Ghana’s 7.44% Share Sale
Access Bank Ghana has completed the sale of a 7.44% equity stake on the Ghana Stock Exchange (GSE),…
Gallery
