Egyptian Private Companies Dominate Cotton Exports
Nine weeks into the Egyptian cotton export season, private companies have won the lion's share of contracts at the expense of public enterprise companies, dominating sales of Egyptian cotton to some 35 markets in Europe, Africa and Asia, according to the Middle East newspaper.
Citing to a report issued by the Union of Cotton Exporters in Alexandria, the paper said that the volume of exported cotton up to November 11 was 75,467 tons, in comparison with 63,149 for the same period last year.
With an increase of 19 percent, the exported cotton has brought home $179.728 million thus far, the weekly said.
The report revealed that private companies have exported 53 percent of the overall amount of cotton, compared to 18 percent last year. The public enterprise companies' contribution slumped from 82 percent last year to a meager 47 percent this year -- Albawaba.com
© 2000 Al Bawaba (www.albawaba.com)