Egyptian cotton exports amounted to 174,300 quintals (1 quintal = 48.95 kg), according to recent data for the period March to May 2015.
According to the data released by the Central Agency for Public Mobilisation and Statistics (CAPMAS), this figure represents an increase of 63.7 per cent compared with 106,500 quintals during the same period a year ago.
CAPMAS attributes this increase to the low prices of Egyptian cotton, reports Saudi-based investing.com.
In its quarterly cotton newsletter in the third quarter (March/May) for the agricultural season 2014-2015, CAPMAS reveals that the total consumed quantity of domestic cotton reached 163,200 quintals compared with 109,600 quintals during the corresponding period of the previous agricultural season, up by 48.9 per cent.
This increase in consumed quantity is attributed to the tendency of spinning companies to use local cotton instead of imported cotton due to lower prices of Egyptian cotton, says CAPMAS.
It also stresses that the amount of cotton that has been ginned amounted to 596,200 quintals during the period from March until May, compared to 395,000 quintals during the same period last season, an increase of 50.2 per cent.
The amount of cotton that has been composted increased by 96.2 per cent to 502,800 quintals, during the comparison period.