Major surge in Egyptian Cotton exports
Egyptian Cotton exports reached record high export value that exceeded 283 Million USD until March, 2022, with a surge of more than 40% compared to last season entire export value, and is expected to further surge until end of current season that ends in August 2022. India remained to be the main market for Egyptian Cotton exports, representing 36% of Egyptian Cotton exports with more than 19K Tons, despite of the major surge of China’s imports of Egyptian Cotton that reached 11.5K Tons and becoming the second largest market for Egyptian Cotton.
The Egyptian Cotton varieties average price has recorded a range of 260-285 cents/libra which is lower compared to the US Pima average price of 350 cents/libra.
The Egyptian Cotton domestic consumption has remained low with only 7.5K Tons, with the private sector spinning mills domination of 97% of domestic consumption. The main private sector spinning mills with leading share of Egyptian Cotton domestic consumption are Nile spinning (21.4%), Mediterranean (20%), Inter-yarn (15.5%), and Alex Spinning ( 14.1%).