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Yarn Holding: We are ready to implement the new cotton trading mechanism in all governorates

Sources in the Holding Company for Cotton, Spinning and Weaving revealed the company's readiness through the New Cotton Company to implement the new cotton trading mechanism in all governorates during the current season, especially that the mechanism allows the entry of private sector companies to purchase cotton.


The sources added to "The Seventh Day", that the basis for applying the mechanism is the presence of modern gins, which contribute to improving the quality of cotton, pointing out that during the current season there will be 4 gins ready to receive the cotton and gin it in the modern way, to ensure that there are absolutely no impurities in the cotton in a way that improves the quality of the cotton. Its value is universal.


She explained that the holding company succeeded, during the past two years, 2019 and 2020, in its implementation, and the experiment included in its first year the governorates of Fayoum and Beni Suef, and in 2020, the Ministerial Economic Group agreed to implement the system in 4 governorates (Fayoum - Beni Suef - Beheira - Sharqiya).


The system relies on defining centers to receive cotton from farmers in the governorates, distributed among the administrative centers, and according to the areas cultivated with cotton. The farmers are handed bags made of jute and a cotton swab to sew them in order to preserve the cotton from pollution.


The sale process is also carried out through auctions between the advanced companies, according to the international price, especially the price of American pima cotton.