CAIRO: To revitalize the cotton harvest and industries in Egypt and solve the current problems with public spinners, Minister of Agriculture Ayman Abu Hadid designated Cotton Research Institute (CRI) Wednesday to design a categorized plan of the will-implanted acres with cotton and appropriate types of plantation in all governorates, according to the Agriculture Ministry’s official webpage.
CRI will draft measures to import the required quantities of cotton for local spinners by rates that do not adversely affect the Egyptian cotton, the ministry announced.
By applying the categorized plan, the Ministry of Agriculture aims to achieve interest for Egyptian farmers, solve the cotton marketing problems, and to encourage local textile sector, Abu Hadid said.
Abu Hadid asked the Textile Industry council to coordinate with the Ministry of Agriculture to define a probable price for cotton to encourage farmers, meet the public spinners’ needs, and to promote Egyptian cotton worldwide and nationwide by deploying promotional campaigns to foreign countries.
Cotton harvest is considered one of the vital and original harvests in Egypt and the government, “represented in the Agriculture Ministry,” is working to increase cotton harvests again. It will also present subsidy to public spinners to purchase Egyptian production as they tend to import other types of cottons for lower prices, Al-Maal Business Daily reported.
The government is set to provide 200 million EGP as subsidy for public spinners to purchase state produced cotton, the ministry announced and that it will be enough to purchase about half of the productions, estimated at 2 million kantar and 200 EGP per Kantar, ministry inside sources told Al-Maal.
“Presenting cash subsidy for public spinners will encourage them to re-purchase Egyptian productions,” the source said, adding that Egyptian Cotton karat may reach 1300 EGP, while the price of imported cotton karat could be 750 EGP, it reported.
A total of 75,000 acres of cotton are expected to be cultivated in the summer season of 2014, compared to the 66,000 acres during the same period in 2013, the minister Services Sector Head Hamdy al-Assi previously told Youm7.
Assi unveiled that the value of textile productions in Egypt could reach up to $2.3 billion annually.