The total volume of Egyptian cotton exports witnessed increase during the second quarter of the 2014-15 agricultural season, to reach 246,000 metric quintals, growth by 94.3 percent year-on-year, compared to 126,600 metric quintals exported in the same period during the last season, according to a Central Agency for Public Mobilization and Statistics (CAPMAS).
Increase in export is attributed to the low Egyptian cotton prices due to the increased inventory of cotton since the previous season.
The total quantity consumed of local cotton increased by 115.5% to reach 175,800 metric quintals during the period from December 2014 to February 2015, compared to 81,600 metric quintals in the same period of the previous season. The increase is due to the direction of local spinning and cotton companies to decrease in quantities of imported cotton.
According to CAPMAS, the amount of ginned cotton has increased by 26.2% to reach 1.3m metric quintals during the period from December 2014 to February 2015, compared to lm metric quintals in the same period in the previous season.
During the Q2 of the 2014-2015 agricultural season, the amount of composting cotton has increased by 37% to reach 1m metric quintals compared to 0.7 m metric quintals the previous period due to the rise in cotton exports.
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