This came as a reaction of the cotton exporters members on the possibility of banning or imposing fees upon a request of the local spinners in a meeting under the chairmanship of the Federation of Egyptian Industries Mr. Mohamed EL Morshedy, where they did not issue any prices for selling yarns locally, although with the increase of the raw material prices and increase in the export prices with an average percentage 10% and reducing the period of contracts to export yarn for three months instead of 6 months as it was in the past.
Date:10/12/2010
Source:www.commodityonline.com