Egypt’s cotton exports up

Egyptian cotton production is on course to rebound with help from a devalued currency and bigger cultivation area, recovering from a slide in exports of the world-famous crop since 2011 that was caused by a drop in quality.

Cotton exports are expected to reach about 52,000 tonnes in the 2017/2018 season that ends in August, up nearly 37 percent from the previous year, Nabil al-Santaricy, head of the Alexandria Cotton Exporters

Association, told Reuters.

“Next year we expect to yield approximately 120,000 tonnes overall, so we expect exports to rise by approximately 40-45 percent if we export around 75,000 tonnes,” he said.

Output fell drastically in 2011, when political upheaval meant regulations to maintain quality were not enforced.

But demand for the Egyptian product, known locally as “white gold”, has picked up as rules to ensure quality have been strictly imposed again since

2016.

Egypt is the world’s second largest exporter of long-staple cotton, used mainly to make luxury linens, behind the United States, said Ahmed Elbosaty, chairman of Modern Nile Cotton, Egypt’s largest cotton trading company.

“This time we are coming back with a volume the market is used to and was in desperate need for ... Now the quality is back and the quantity is going up,” he said. (RTRS)