(MENAFN - Brazil-Arab News Agency (ANBA)) From the Newsroom
São Paulo - Egypt's cotton exports increased to 51,000 tonnes in the third quarter of 2018-19 farming season, up 218% year-to-date from 16,000 tonnes. The information was published in Egyptian news websites based on information that Central Agency for Public Mobilization And Statistics ( CAPMAS ) reported.
CAPMAS said that an increase in production drove exports. In the third quarter of the current farming season through May, domestic consumption of cotton saw a slight year-on-year drop to 3.8 tonnes from 3.9 tonnes. The Central Agency reported that this occurred because some plants ceased production.
Egyptian cotton production has recovered since a downfall in 2011, when the country was subjected to a severe political instability. Now Egypt has a new auction system that allows farmers to sell their crops in line with international prices which is aimed to boost production, Egyptian newspaperAl Ahramreported. The country has also put forth production upgrade programs.
Translated by Guilherme Miranda