CAPMS Head: 92% decline in cotton exports after decline in world prices & cultivated areas

Abu Bakr El Gondy, president of CAPMS stated that China is one of the most importing countries for the Egyptian cotton with a percentage of 49.2% of total export quantity.

Adding to that, total domestic consumption from Egyptian cotton has declined by 75% during the agricultural season 2008/2009.

Moreover, most of the consumed quantities where of high qualities that reached 69 thousand kantars with 44.5% of total cotton consumed. In addition to that, total consumption from imported cotton during the same season reached 391 thousand kantars compared to 77 thousands kantars in the previous season with a percentage increase of 408%.

Brigade Abu Bakr ensures that total quantity of cotton that was gin in Egyptian factories has declined by 50% and most of it where of high quality reached to 65.7% of total cotton during the period Dec. 2008 & Feb.2009 and that all of the above developments was due to the decline of cotton prices internationally and because of the decline of the cultivated areas and replacing the cotton areas by other agricultural crops.