Egyptian cotton seed is cultivated as from first March until end of April, its surface is irrigated over ten times hand pest control, pheromone traps during May & June, hand picking of seed cotton starts beg. September to be roller ginned.
The cotton selling season used to start on September 1st & closes August 31st.Sales policy is usually announced a fortnight prior to the release of export selling prices which takes place during the month of September. Said prices remain valid for one week, Sunday through Saturday, as they are subject to change according to any increase/decrease of basic prices or due exchange rate fluctuations.
Egyptian cotton is sold on private types not on official standard grades or specifications. The type represents in all respects the cotton to be shipped in fulfillment of contracts signed by both parties. Sales are effected at the optional terms: FOB, CIF, C&F or C&I and the value of cotton shipped is calculated on the basis of the EGYPTIAN MOISTURE HOUSE weights and conditioning certificate and not on the basis of landing weights.
All sales should be concluded in accordance with unified contract which is subject to the rules of the Cotton Exporter’s Association in Egypt (ALCOTEXA) of which all cotton exporters are members. In case of any dispute, Alcotexa rules stipulate that arbitration should be done in Alexandria and differences to be settled accordingly.
Exportable Egyptian cotton varieties are classified staple-wise in two
b) Long staple (over 1 ¼ inch ): giza86, ,giza 89,giza85,giza80,giza90.
The buyer should pay for his purchase by an irrevocable letter of credit at sight issued by an A-ONE bank or against shipping documents at sight at seller’s bank. In case of payment facilities till 180 days the buyer should open a confirmed L/C by a first class bank.
Acceptable currencies for payment are to be fixed by our Central Bank and to be included in the sales policy.
Unit Of Measure & Method Of Packing
Egyptian cotton after being roller ginned is hydraulically pressed up-country & after being blended in Alexandria is steam pressed in bales of 6.53 Metric Cantars net each, equivalent to 720 lb or 326.5 kilos. The bale is wrapped in hessian cloth and tied by 8 steel bands. Dimension of one bale in inches 53 x 35 x 22.