CAIRO: The government will pay each farmer 1,100 EGP ($170) for a quintal (100kg) of cotton grown in Upper Egypt and 1,250 EGP per a quintal of long staple cotton grown in the Delta, Agriculture Minister Essam Fayed was quoted by Youm7 Saturday.
“As a part of the ministry’s strategy to protect the cotton cultivation, the government has allocated 300 million EGP to buy the total cotton crop production during this season,” Fayed said, adding that 200 million kilograms of cotton were produced this season so far.
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.