Egypt sells 1.2 million quintals of cotton for EGP 6bn through new platform

Daily News Egypt
2 Min Read

The Ministry of the Public Enterprises Sector has said that about 1.2 million quintals of cotton were sold for EGP 6bn, out of the total cotton production of ​​1.4 million quintals in 14 governorates.

Several cotton trading companies from the private sector participated in the process.

This came according to the latest report received by Hisham Tawfik, Minister of Public Enterprises Sector, to follow up the progress of work in the new trading system across the country for the current season in 2021.

The report showed the demand of farmers and traders to participate in the system, which began experimentally in 2019 in Fayoum and Beni Suef, then in Beheira and Sharqeya in 2020, until the system was generalized this year 2021 across the entire country.

In light of ending the application of the system in the governorates of Upper Egypt, it was found by comparison that the quantities of cotton sold through the system in Fayoum increased to 54,900 quintals in 2021 compared to 22,200 quintals in 2020. The quantities sold in Beni Suef increased to about 22,000 quintals in 2021, compared to about 14,000 quintals in 2020.

Kafr El-Sheikh governorate had the highest cotton selling rate through the system due to its increase in the areas cultivated with cotton.

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