According to Nabil al-Santaricy, head of Alexandria Cotton Exporters Association (ALCOTEXA), the fiber shipments are expected to hit 52,000 tons by the end of the 2017/2018 season next August, up 37% compared to 2016-17.
“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,” Ahmed Elbosaty, head of Modern Nile Cotton (the country’s leading cotton trader) told Reuters.
ALCOTEXA said the devaluation of the pound helps the sector to improve its competitiveness. This coupled with the good reputation of the country’s long-staple cotton on the market, would increase export by 40-45% to 75,000 tons next season, if output reached 120,000 tons.
Let’s note Egypt planted 141,120 hectares of long-staple cotton this year, against 92,400 hectares in 2017.