Egypt’s cotton exports rose by a sizeable 94.3% year-on-year to 246,000 metric quintals (55,000 480-lb bales) during the second quarter of the 2014-2015 agricultural season (Dec. 2014 to Feb. 2015). The country’s Central Agency for Public Mobilization and Statistics (CAPMAS) attributed the growth to the low Egyptian cotton prices that came as a result of increased inventory from the prior season.
Domestic cotton consumption also saw a jump due to the drop in prices. The Daily News Egypt reported that the total quantity of local cotton consumed rose by 115.5% to reach 175,800 metric quintals (39,500 bales) during the December to February period, compared to 81,600 metric quintals (18,344 bales) in the same period of the previous season, citing a CAPMAS statement. “The increase is due to the direction of local spinning and cotton companies to decrease amounts of imported cotton,” the Daily News reported.
Egypt’s amount of ginned cotton increased by 26.2% to reach 1.3 million metric quintals (292,300 bales) in the period.
CAMPAS reportedly said the increase to meet spinning companies’ local cotton needs was due to the decrease in imported cotton volume.
In 2014, the United States imported $5.65 million worth of cotton from Egypt, a 91 percent increase over 2013—likely due to the price shift—but U.S. imports of Egyptian cotton fell by 62 percent on a dollar basis in the first calendar quarter of 2015 compared to the prior year first quarter.