CAIRO: Egypt’s Minister of Irrigation and Agriculture Hossam Moghazi that a sum of 1,000 EGP ($127.7) is to be paid to farmers per delivery of each quintal (equal to 100kg) of crops, Youm7 reported Wednesday.
Moghazi added in press statements in Fayoum governorates that a celebration will be held during this month for Farmer’s day, during which President Abdel Fatah al-Sisi is to announce “pleasant news” for farmers.
The minister pointed that a meeting is to be held Thursday in the Ministry of Agriculture, which will be attended by all the concerned parties with cotton, to agree on the crops’ marketing mechanisms and the final prices.
“The primary price of importing cotton this year is 1,400 EGP per extra long staple quintal and 1,250 per long staple quintal,” said Moghazi.
He added that the long staple cotton is witnessing a decline as it is not in as high demand, since the world has begun to prefer medium and short staple cotton at lower prices.
In July, Prime Minister Ibrahim Mahlab permitted the import of cotton into Egypt for a year.
The Cabinet’s decision “saved the textile factories from collapsing,” head of the Federation of Egyptian Industries Mohamed el-Sewidy told Youm7.
“The decision reflects that the Cabinet is keen on saving national industries and on solving the obstacles that face these industries,” he added.
Sewidy noted that the textile industry depends on small and medium staple cotton, which Egypt does not produce.