The holdng company for textiles has issued tenders to import Polyester fiber (5,000 Mt) and has imported 14,000 Tons of cotton from Greece last August, and 5,000 Tons of Acala Sudaneese cotton recently. .
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The current crisis was mainly due to the exports of 180,000 Tons of Egyptian cotton fiber last year which included carryovers from previous years, taking advantage of the of the devaluation of the Egyptian pound. The average annual exports of Egyptian cotton is around 100,000 Tons. .
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Currently, Egypt imports of polyester yarn from Korea reached 10,600 tons in this year up to end of October or US$10.5 million, up 151% over the period. Far from slowing down, shipments to Egypt were up 158% in October from the same month of last year. .
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From US$679,000 in January, exports progressively rose to US$1.8 million in July before slightly declining in August and September. Sales to Egypt had reached a peak of US$12.36 million in 1998 before sharply falling in the following years. .
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Sales to Egypt had reached a peak of US$12.36 million in 1998 before sharply falling in the following years.
Date:12/18/2003
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