Long-staple cotton prices down due to high supply

Prices of long-staple cotton from the Delta fell to EGP 2,500 per qintar, down from EGP 2,650 per qintar as a result of higher-than-usual supply during the 2018-2019 harvesting season, Farmers’ Syndicate head Hussein Abdel Rahman said, according to Al Mal. Traders are also reportedly holding back on purchasing cotton to force prices down, Abdel Rahman said.