Egypt Agreed to Export 295 Metric Tons of Cotton Last Week

Egypt agreed to export 295 metric tons of cotton in the week through May 17, the Alexandria Cotton Exporters Association said today in its weekly bulletin.

The country has shipped 73,716 tons of the fiber valued at $231.7 million since the marketing year began Sept. 1. Last week’s sales were split between 145 tons of the Giza 88 cotton variety and 150 tons 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: Andrew J. Barden at barden@bloomberg.net