The new system sells cotton by auction with a pricing policy in line with global cotton prices
Egypt, agriculture, cotton, Ministry of Public Business Sector
Egypt’s Ministry of Public Business Sector announced Thursday that around 117 quintals of the Egyptian cotton, totalling EGP 237 million, have been sold since the new system for cotton selling came into force.
According a statement issued by the ministry, the new system guarantees fair prices for farmers, as cotton selling is implemented through auction, and the pricing policy is in line with global cotton prices.
It added that centres that have been set up to receive cotton crops from farmers in Beni Sueif and Fayoum governorates.