Back to the complete issue
Wednesday, 12 July 2017

Government to increase price of purchasing local cotton from farmers

The government be paying more for cotton it purchases from local farmers, Al Borsa reports. Prime Minister Sherif Ismail will be meeting with the ministers of agriculture and manpower to set a final price, according to Agriculture Ministry spokesman Hamed Abdel Dayem. As it stands, the proposed price increases would have the government buying long-staple cotton from the Delta for EGP 3,000 per qintar, up from EGP 1,250 before. Short- and medium-staple cotton from Upper Egypt would be priced at EGP 2,500 per qintar, up from EGP 1,100 before. The government is also looking to cultivate 220k feddans of cotton next year, Ismail told the press. This season’s cotton harvest season had fallen far below the government’s targets, reaching only 127k feddans of the planned 250k feddans. This was also 3% lower than the 131k feddans planted last year. The state is also planning to double long-staple cotton production and exports in FY2017-18.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.