In 2022, China surpassed India to become the top buyer of Egyptian cotton, known for its extra-long fibres and smooth yarn. India was the top buyer for Extra Long Staple (ELS) cotton of Egypt during 2021. There was a decrease in Egyptian exports to India, in contrast to a substantial increase in exports to China.
Egyptian cotton is characterised by its extra-long fibres, smaller in diameter than typical cotton. When these finer, longer fibres are combed and spun, they produce smooth yarn, which in turn yields smooth, soft cloth when woven.
Egyptian cotton exports to China in 2022 were valued at $116.934 mn, accounting for 43.09 percent of the total shipment. India, the second largest market, imported cotton worth $75.152 mn, which made up 27.69 percent of the total. Among the top five markets, Pakistan received 14.17 percent of the shipment, Vietnam 5.37 percent, and Bangladesh 3.77 percent, according market report.
This pattern of buyer distribution greatly contrasts with that of 2021, when cotton exports from Egypt to India were valued at $143.985 mn, making up 65.58 percent of total exports. Meanwhile, shipments to Pakistan constituted 15.32 percent, Bangladesh 10.17 percent, and China just 2.34 percent of the total.
Indian trade sources attribute this drastic shift in trade dynamics to significant delays in shipments by multinational cotton trading firms, which forced Indian buyers to stall their purchasing plans in 2022. This happened during a period when the natural fibre reached record high prices. Conversely, the Chinese industry had to source cotton globally, as they were unable to export garments to the US that were made from cotton produced in China’s Xinjian region.
According to market report the value of Egyptian cotton exports rose to $258.538 mn in 2022 (133.158 mn kg), up from $219.479 mn (129.395 mn kg) in 2021. Prior to this, the figures were $161.923 mn (99.102 mn kg) in 2020, $165.233 mn (66.980 mn kg) in 2019, and $219.479 mn (124.054 mn kg) in 2018.
