Cotton exports increased 63.7 percent during the third quarter of the 2014-2015 (March-May) fiscal year, a government report has said.
“The total amount of Egyptian cotton exports reached 8,715,000 kgs in (March/May 2015) compared to 5,325,000 kgs during the same period of the previous season, an increase of 63.7 percent,” said a quarterly bulletin by the Central Agency for Public Mobilization and Statistics (CAPMAS), attributing the increase to “the lower prices of Egyptian cotton”.
The consumption of domestic, as opposed to imported, cotton also saw an increase during the same period. The report said the consumed amount of domestic cotton stood at 8,160,000 kgs in (March/May 2015), compared to 5,480,000 kgs during the same period of the previous season, an increase of 48.9 percent.
The report attributed the increase to the spinning companies’ tendency to use cheaper domestic cotton.
