The rising global demand for cotton is one of the reasons for the increase in the area under cotton harvest, and the recent rise in prices of cotton is driving farmers to increase the production. Thus, cotton production in the country is likely to increase by 30.23 per cent from 215,000 480 lb bales in MY 2020-21 to 280,000 480 lb bales in MY 2021-22.
Egypt exported 220,000 480 lb bales of cotton in MY 2019-20 and 250,000 480 lb bales in MY 2020-21, according to Fibre2Fashion’s market analysis tool TexPro. The exports are expected to escalate further by 28 per cent to reach 320,000 480 lb bales in MY 2021-22.
As for the imports, the country’s requirement for cotton imports may reduce in MY 2021-22 as cotton production is expected to be higher compared to the previous marketing year. Egypt imported 512,000 480 lb bales in MY 2019-20, which increased by 23.05 per cent to 630,000 480 lb bales in MY 2020-21. Imports are now expected to decline by 12.70 per cent to 550,000 480 lb bales in MY 2021-22 over the imports in MY 2020-21.
ALCHEMPro News Desk (KD)
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