Egypt Imposed Temporary Restrictions On Cotton Imports

2011/10/28 11:31:00 25

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Temporary Restrictions On Cotton Imports In Egypt

Egypt's financial newspaper said the country had been right.

Cotton import

Temporary restrictions are imposed until domestic crops are sold.

Comprehensive media reported on October 27th that a financial newspaper in Egypt reported on Thursday that the country had temporarily imposed cotton imports.

limit

Until domestic crops are sold, there are problems with the sale of domestic cotton in the market.

"The program will help solve the current domestic cotton dilemma.

Marketing issues

"Salah Moawad, director of the Agricultural Services Department of the Ministry of agriculture, told the al-Mal newspaper.

The top officials of the Ministry of agriculture and the Ministry of agriculture have not yet been commented on this.

The US Department of agriculture report shows that the cotton market in the 2011/12 market is overestimated by farmers' cotton prices, and the lack of liquidity impairment among traders.

Moawad said the agricultural credit and Development Bank has allocated 50 million Egyptian pounds (US $8 million 400 thousand) to buy cotton from domestic cooperatives.

Farmers asked their cotton prices to reach 1700 Egyptian pounds per 160 kg, but the price of imported cotton was only about 1500 pounds.

Adel Ezzi, chairman of the Committee on cotton trade in Egypt, said that cotton production in Egypt is estimated to be 3 million 700 thousand towers, 2 million of which will be used for export, with only 1 million 700 thousand towers being sold domestically, which is not enough to meet domestic demand.

"The decision to postpone the import of cotton is expected to end at the end of the current market year," he told al-Mal.