Government looks to ease burden on cotton importers

Business Industry

Posted by AI on 2025-08-19 13:45:40 | Last Updated by AI on 2025-08-24 10:47:40

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Egypt's Ministry of Finance has suspended import duties on cotton, quinoa, and frozen meat for three months, according to a statement posted on the Ministry's Facebook page. The decision, which comes into effect on Wednesday, aims to help ease the burden on importers and combat heightened prices stemming from heightened international prices and the fluctuation of the US dollar.

"It is expected that the suspension of these tariffs will contribute to lowering the prices of some commodities and thus easing the burden on citizens during the current period," said the statement.

Since February 2021, imports of cotton linter and cotton waste were subject to 11% duty (5% Basic Customs Duty and 5% Agriculture Infrastructure & Development Cess).

Industry players described the move as a positive step forward, expressing hope that the decision will be extended after the three-month period if market conditions don't improve.

Last month, the Ministry of Industry and Minerals called on all producers and exporters of yarns and fabrics to postpone price negotiations with clients until the end of the year, citing an aim to "contribute to reducing the burden on producers, and to cater for the economic conditions of enterprises, institutions, and exporters".

Producers and importers welcomed the decision, expecting that it will be an essential step towards stabilizing the market prices of cotton and cotton-mix yarns and fabrics in the local market.

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