The Egyptian Cotton export commitments have decreased by more than 60%
Commitments for Exports of Egyptian Cotton fiber during 2003/2004 season have decreased by more than 60% compared to the last season's export figures which were recorded to be more than 180,000 Tons. The current export commitments of this season have been predicted for not a great deal of change in the next few…
Egytex News Desk
Egytex
The official spokesman of Alcotexa (Alexandria Cotton Exporters Association) has stated that the low exports of Egyptian cotton fiber this season is mainly due to the subsides allocated by the US government to the Pima cotton, which is almost equivalent in fiber properties to Egyptian cotton Giza 86 variety.
The Holding Company of Cotton, Spinning, Weaving and Ready Made Garments has decided to redirect the quantities of Egyptian Cotton fiber they had allocated for exports, to the local spinning industry, in order to prevent any financial burdens expected from the Egyptian cotton fiber world demand decrease. The Egyptian textile industry has been suffering this season from the dilemma of the unavailability of the Egyptian cotton fiber due to the exports of carryovers during last season and surge of world cotton prices.
The available quantity of Egyptian cotton fiber exceeds 90,000 Tons. Yet, more than 65% of the total fiber accessibility are Giza 70 ,88 and 86 varieties, which are not highly demanded in the local spinning industry, specially for producing cotton yarn below count 30NE.
From the Egytex news archive, first published on 10 June 2004. Figures and names are as reported at the time.
