The Egyptian Government Temporarily Forbids The Import Of Cotton.

2011/11/1 10:47:00 6

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In order to protect the cotton farmers' economic interests and production enthusiasm, the Egyptian government announced a 27 day ban.

cotton

Import and allocate additional funds to help local cotton.

Purchaser

Acquisition of local cotton?

According to local newspaper 28 reported that the current international cotton

Price

For each package (160 kilograms) 1500 pounds (1 U. S. dollars or 5.97 pounds), and the cotton sales of local cotton farmers quoted 1700 pounds? Because the cotton prices in Egypt are higher than the international price, cotton producers prefer to import more cotton instead of the cotton produced locally in Egypt. The government stipulates that the cotton will be resumed after the acquisition of cotton locally.

In addition, the Egyptian government has decided to allocate 50 million pounds to support local Cotton Corp's acquisition of local cotton.

Egypt's long staple cotton is known all over the world? According to the relevant agencies, the estimated cotton output this year is 3 million 700 thousand packs, of which about 2 million packages are used for export, so it is still necessary to import cotton to meet the domestic market needs.