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Egypt Agreed to Export 501.5 Metric Tons of Cotton Last Week

Egypt agreed to export 501.5 metric tons of cotton in the week through June 7, the Alexandria Cotton Exporters Association said today in its weekly bulletin.

The country has shipped 75,772.5 tons of the fiber, valued at $237.5 million, since the marketing year began Sept. 1. Of last week’s agreed sales, 251.5 tons were of the Giza 88 variety and 250 tons were of Giza 86, the association said.

Egypt produces the world’s finest extra-long staple cotton, which is stronger and softer than shorter-staple cotton and used in luxury clothing. Switzerland, Bangladesh and India are the top importers of Egyptian cotton.

To contact the reporter on this story: Abdel Latif Wahba in Cairo at alatifwahba@bloomberg.net

To contact the editor responsible for this story: Riad Hamade at rhamade@bloomberg.net

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