12 billion pounds expected cotton sales this season, an increase of 7 billion over last year

Engineer Ibrahim Kandil, a cotton expert, revealed that the expectations of cotton trading during the current season indicate achieving sales of about 12 billion pounds, representing the value of cotton, compared to nearly 5 billion pounds, the value of cotton last season, due to the increase in cultivated areas during the current year.

Ibrahim Kandil added to “The Seventh Day” that for the first time, it is expected that the prices of Upper Giza 95 cotton will be higher than the cotton of Lower Egypt, as the opposite was normal throughout the past years, explaining that global conditions, and many countries were exposed to climatic changes that contributed to Cotton prices have risen in this way, especially last year and this year.

He pointed out that for the first time also, the price of American pima cotton has risen significantly over Egyptian cotton in global stock exchanges, pointing to the importance of strict application of receiving cotton from farmers using the new mechanism, in order to ensure the purity of cotton and its freedom from impurities and thus ensuring its quality globally, especially that prices will gradually decrease in light of Lots of display.

It is noteworthy that the highest price of a pound of cotton was sold at 5155 pounds for Upper Egypt cotton in Fayoum, and the highest price in Beni Suef was 4,905 pounds.

It is worth noting that the new cotton trading system is being implemented for the fourth year in a row, as it depends on the sale of cotton through the auction system in collection centers in each administrative center in the governorates according to the cultivated areas. To bid on it between trading companies.

The system aims to regulate and improve the cotton trading process, maintain its cleanliness and quality, and thus increase its global competitiveness, while achieving the highest return for the farmer against his cotton through auction.

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