Egypt adopting strategy to restore cotton industry to top of global market

Egyptian Minister of the Public Business Sector Hisham Tawfik has announced that Egypt is adopting a new strategy to restore its cotton industry to its place at the top of the global cotton market.

In a meeting with the heads of public and private cotton companies, Tawfik said that the new strategy involves implementing a new system for cotton trading which will be put in place on a trial basis in Fayoum and Beni Sweif governorates during the harvest season of 2019.

"The new system, which costs EGP 8 million, has determined that 17 centres are to receive cotton crops directly from farmers with no intermediaries. Nine of [the centres] will be in Fayoum and the other eight in Beni Sweif. These centres will also provide farmers with special cotton packs as of 17 August to protect the crops from contamination," Tawfik clarified.