The exports of cotton from Egypt declined by 42 percent in the first quarter of the agricultural season 2013-14, according to the data from the Central Agency for Public Mobilization and Statistics (CAPMAS).

Egypt exported 79,600 quintal of cotton during September-November 2013 period compared to exports of 137,400 quintal made during the same period last year, CAPMAS said in its latest quarterly newsletter. CAPMAS attributed the drop in cotton exports to an increase in prices of Egyptian cotton.

According to the quarterly bulletin, the amount of ginned cotton reached 526,500 quintal during the three-month period, as against 415,400 quintal of ginned cotton during the same period of the previous season, showing an increase of 26.7 percent, due to an increase in cotton production.

Meanwhile, the total amount of cotton consumed by domestic enterprises reached 97,300 quintal during the quarter versus 415,800 quintal cotton consumed during the same period of the previous season, showing a decline of 76.6 percent. CAPMAS attributed this decline in domestic cotton consumption to closure of some ginneries.

During the quarter under review, Egypt imported 247,300 quintal of cotton, showing a substantial increase of 1237.9 percent over 18,500 quintal of cotton imported during the corresponding period of the previous season. The decrease in prices of imported cotton was the main reason for the substantial increase in imports, which filled the shortage of cotton in the domestic market, the press release said.