Business sector: 27.7 thousand quintals were sold at cotton auctions in 4 governorates within one day

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The governorates of Kafr El-Sheikh, Sharqia, Fayoum and Beni Suef witnessed public auctions to sell cotton within the new trading system, which is implemented by one of the companies of the Ministry of Public Business Sector in all governorates for the season 2021-2022, according to a statement from the ministry today.

In Sharkia, an auction was held to sell about 19,143 kantars of cotton for the benefit of 5 companies: “United, Al-Ikhlas, Al-Ruwad, Olam, and Al-Majd”, where the average price reached 4,500 pounds per quintal.

In Beni Suef, about 1,823 quintals were sold in a public auction between trading companies, and the auction was awarded to the Abu M Company, the auction in favor of the Olam Company for a quantity of 1,789 quintals of cotton, at the award price of 3885 per quintal.

In the first application of the new trading system in Kafr El-Sheikh Governorate, the first cotton auction was held for a quantity of about 4,951 quintals purchased by 6 trading companies, at prices ranging between 4,540 and 4,590 pounds per quintal.

The article Business Sector: Selling 27.7 thousand kantars at cotton auctions in 4 governorates within one day, it was written in Al Borsa newspaper.