Egyptian Government allocates funds to buy cotton crop from farmers

Agriculture Minister of Egypt, Essam Fayed announced the allocation of US $ 37.46 million to buy the total cotton crop produced this season, which was around 200 million kilograms. Each farmer will be paid US $ 137 for a quintal of cotton grown in Upper Egypt and US $ 156 per quintal of long staple cotton grown in the Delta. He attributed the decline in prices of long staple cotton to the increasing global demand of short and medium staple cotton. The cabinet aims to save the national industries and solve the obstacle faced by them.