New cotton trading system for 2020-2021 to rely on public auctions for pricing

The government will implement a new cotton trading system in four governorates — Fayoum, Beni Sueif, Beheira, and Sharqia — for the 2020-2021 season that will rely on a public auction mechanism for the sale of the crop, according to a cabinet statement. The private sector will be permitted to participate in the auctions, which will set the market price. Under the new system, the sales will be restricted to government-designated collection centers, and farmers will be required to directly submit their hauls to the nearest collection centers.