{"id":596361,"date":"2019-08-26T04:00:09","date_gmt":"2019-08-26T04:00:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/26\/new-cotton-auction-system-draws-criticism-from-bidding-companies-for-high-prices\/"},"modified":"2019-08-26T04:00:09","modified_gmt":"2019-08-26T04:00:09","slug":"new-cotton-auction-system-draws-criticism-from-bidding-companies-for-high-prices","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/26\/new-cotton-auction-system-draws-criticism-from-bidding-companies-for-high-prices\/","title":{"rendered":"New cotton auction system draws criticism from bidding companies for high prices"},"content":{"rendered":"

Private companies refused to participate in the first cotton auction held under a new mechanism yesterday, complaining that the opening price of EGP 2.1k per qintar was too high, the Public Enterprises Ministry said in a statement picked up by the local press<\/a>. The new public auction system<\/a> is being applied on a trial basis in Fayoum and Beni Suef, and could be rolled out to other governorates for the 2020\/2021 harvest if it proves successful. The cotton was awarded to El Wady for Trading and Cotton Ginning, which paid 70% to the farmers up front and promised to pay the rest in the coming week.<\/p>\n","protected":false},"excerpt":{"rendered":"

Private companies refused to participate in the first cotton auction held under a new mechanism yesterday, complaining that the opening price of EGP 2.1k per qintar was too high, the Public Enterprises Ministry said in a statement picked up by the local press. The new public auction system is being applied on a trial basis […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9309],"tags":[97,2416,317,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596361","post","type-post","status-publish","format-standard","hentry","category-basic-materials-commodities","tag-agriculture","tag-basic-materials-commodities","tag-commodities","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"f699df45-71df-46d2-9e85-7815c0e3d7dd","is_powered_by":true,"section_story_id":"edd5c175-aed2-49aa-acfd-6c8e39e6be90","story_type":"1","photo_url":"","photo_position":"above","related_issue":[596340],"teaser":"","voice_url":""},"yoast_head":"\nNew cotton auction system draws criticism from bidding companies for high prices - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/26\/new-cotton-auction-system-draws-criticism-from-bidding-companies-for-high-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New cotton auction system draws criticism from bidding companies for high prices\" \/>\n<meta property=\"og:description\" content=\"Private companies refused to participate in the first cotton auction held under a new mechanism yesterday, complaining that the opening price of EGP 2.1k per qintar was too high, the Public Enterprises Ministry said in a statement picked up by the local press. The new public auction system is being applied on a trial basis […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/26\/new-cotton-auction-system-draws-criticism-from-bidding-companies-for-high-prices\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-26T04:00:09+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/26\/new-cotton-auction-system-draws-criticism-from-bidding-companies-for-high-prices\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/26\/new-cotton-auction-system-draws-criticism-from-bidding-companies-for-high-prices\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"New cotton auction system draws criticism from bidding companies for high prices\",\"datePublished\":\"2019-08-26T04:00:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/26\/new-cotton-auction-system-draws-criticism-from-bidding-companies-for-high-prices\/\"},\"wordCount\":116,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"agriculture\",\"Basic Materials + Commodities\",\"commodities\",\"EnterpriseAM\"],\"articleSection\":[\"Basic Materials + Commodities\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/26\/new-cotton-auction-system-draws-criticism-from-bidding-companies-for-high-prices\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/26\/new-cotton-auction-system-draws-criticism-from-bidding-companies-for-high-prices\/\",\"name\":\"New cotton auction system draws criticism from bidding companies for high prices - 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Companies from the private sector won all auctions held in Fayoum, Beni Suef, Beheira, and\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597469,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/28\/fayoum-beni-suef-to-experiment-with-auction-mechanism-for-egypts-short-staple-cotton-crops\/","url_meta":{"origin":596361,"position":2},"title":"Fayoum, Beni Suef to experiment with auction mechanism for Egypt\u2019s short staple cotton crops","author":"enterpriseam admin","date":"28 July 2019","format":false,"excerpt":"The government will begin using public auctions on a trial basis in Fayoum and Beni Suef to sell local short staple cotton to bidding companies in the coming harvest season, which begins in September, government sources told the press.The auction mechanism could be standardized starting the 2020-2021 harvest if it\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574403,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/08\/private-sector-makes-bids-in-government-auction-of-2020-cotton-crop\/","url_meta":{"origin":596361,"position":3},"title":"Private sector makes bids in government auction of 2020 cotton crop","author":"enterpriseam admin","date":"8 September 2020","format":false,"excerpt":"The private sector has for the first time in the modern era participated in the state\u2019s cotton crop auction sale on Sunday organized by state-owned Cotton and Textile Industries Holding Company, according to a cabinet statement. Opening bids for the first auction-based pricing scheme for this year\u2019s cotton harvest started\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574685,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/17\/beheira-and-sharqia-to-hold-cotton-auctions-until-15-december-2020\/","url_meta":{"origin":596361,"position":4},"title":"Beheira and Sharqia to hold cotton auctions until 15 December 2020","author":"enterpriseam admin","date":"17 September 2020","format":false,"excerpt":"A new cotton trading system was rolled out in Beheira and Sharqia on Tuesday, with public auctions due to be held across the two governorates until mid-December, the Public Enterprises Ministry in a statement. Sales will be restricted to government-designated collection centers where farmers go to directly auction their crops.\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591582,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/10\/egypt-gives-private-sector-first-call-at-cotton-bids-next-year\/","url_meta":{"origin":596361,"position":5},"title":"Egypt gives private sector first call at cotton bids next year","author":"enterpriseam admin","date":"10 December 2019","format":false,"excerpt":"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. 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