Egypt gives private sector first call at cotton bids next year

The government plans to have the private sector make the first bid for cotton in the coming season to attract increased private sector participation, Public Enterprises Minister Hisham Tawfik tells Masrawy. The government will also hand over organizing the new cotton auctioning mechanism to a new or existing company. The public auction system was trialed in Fayoum and Beni Suef this year, and proved controversial with private companies which complained about the high prices.