CAIRO: Egyptian cotton exports hiked during the first half of 2015 to reach 466 million EGP ($59.5 million,) compared to 414 million EGP ($52.8 million) during the same period of last year, Youm7 reported Thursday.
The total exports of the cotton yarn surged to 916 million EGP ($117 million) during the first half of 2015, compared to 823 million EGP ($105 million) during the same period of 2014, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in its report on foreign trade.
During the second quarter of 2015’s agricultural season, from December 2014 to February 2015, Egyptian cotton exports soared 94.3 percent to 246 thousand metric quintals, according to a May CAPMAS report.
It is considered a significant hike compared to 126.6 thousands metric quintals in the previous season, said the CAPMAS seasonal bulletin.
The statistics agency noted that the low prices of the Egyptian cotton are the reason behind that increase, as a result of inventory excess of cotton during the same period in the previous season.