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Tuesday, 18 July 2017

Cotton farmers planning to sell their harvests on the open market

Cotton farmers are leaning towards selling their harvests on the open market, rather than to the government, due to the low prices the Agriculture Ministry has set for purchasing local cotton, head of the Egyptian Farmers’ Union Mohamed Farag tells Al Mal. The ministry had announced earlier this week that it will be buying cotton at a price of EGP 2,300 per qintar for long-staple cotton from the Delta, while short- and medium-staple cotton from Upper Egypt has been priced at EGP 2,100 per qintar. According to Farag, each qintar of cotton costs EGP 2,166 to cultivate, meaning the government’s prices would cause farmers significant losses.

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