Agriculture Ministry announces new prices for purchasing local cotton

The Agriculture Ministry will be buying cotton from local farmers during the current harvest season at a price of EGP 2,300 per qintar for long-staple cotton from the Delta, up from EGP 1,250 previously, and paying EGP 2,100 per qintar for short- and medium-staple cotton from Upper Egypt (from EGP 1,100 before), Al Masry Al Youm reports. The head of the Farmers’ Syndicate rejected these prices, saying they will cause cotton production to recede over the coming period due to the rising costs farmers are dealing with, Al Mal reports. The figures fall below previously proposed prices of EGP 3,000 for long-staple cotton and EGP 2,500 for short- and medium-staple cotton. The state is planning to double long-staple cotton production and exports in FY2017-18.