An auction was held to sell cottons from Minya, Sohag, Assiut and Kuntar at 4,050 pounds

The Cotton Marketing System held an auction to sell cotton in the governorates of Minya, Sohag and Assiut, as part of the Giza 95 cotton auctions in Upper Egypt, in Assiut Governorate.

The auction data obtained by “The Seventh Day” showed that the opening price of the auction amounted to 3,512 pounds, guided by the price of American pima cotton and the international price of cotton, as quantities were sold at prices ranging from 3,955 pounds to 4,050 pounds per quintal.

The auction data showed that the quantity sold amounted to 2310 quintals of cotton, of which 157 quintals came from the facility in Sohag, 466 quintals were from Sandfa in Minya, 500 quintals were from durnaka and the rest of the quantities were from Abu Tig in Assiut.

According to the auction data, 3 private sector companies won cotton quantities.

It is noteworthy that the highest selling price per quintal of Upper Egypt cotton in Fayoum governorate amounted to about EGP 5,155, an increase of EGP 1,400 over the price of last season, where prices ranged from EGP 3,700 to EGP 3,860 per quintal, which represents great support for farmers and support for the expansion of cotton cultivation.

Also, the selling prices won by private sector companies in the first auction ranged from 5100 to 5155, and the opening price of the auction was 3805 pounds per quintal.

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. Others for bidding between trading companies.

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

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