The Ministry of Public Business Sector announced that some 136,000 quintals of cotton were sold in auctions held on Thursday.
In a statement released on Friday, the ministry said those actions were conducted in the governorates of Beheira, Kafr El-Sheikh, Sharqia, Gharbia, Dakahlia, Menoufia and Ismailia.
The highest selling price per quintal was EGP 7,785 in Kafr El-Sheikh governorate.
The new system guarantees fair prices for farmers, as cotton selling is implemented through auction, and the pricing policy is in line with global cotton prices.
Source: Egypt Independent