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Thursday, 4 May 2017

Egypt’s cotton industry sees revival following EGP float

The cotton industry in Egypt is starting to see a revival following the float of the EGP, Menna A Farouk writes in Al-Monitor. The devaluation that ensued and the global crackdown on fake Egyptian cotton encouraged farmers to double the area planted with cotton and increase their exports. The US Department of Agriculture forecasts that the areas where cotton is produced in Egypt would double to 110,000 hectares and production would almost double and reach 340,000 bales in the marketing year 2017-18.

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