EGYPTIAN COTTON
JOINT PURCHASE OF CROP
CAIRO, August 12. The Prime Minister, Hussein Pasha Sirry, stated in the Chamber of Deputies that an agreement has been reached under which the British and Egyptian Governments will jointly purChase the Egyptian cotton crop in equal quantities and at the same prices that Britain purchased the whole ■ crop last year. An internal loan of £15,000,000 is to be raised to finance Egypt's share of the purchase. Britain is to return to the growers 50 per cent, of any profits arising from her transaction, while Egypt is to return all profits. Britain has also offered to purchase about half the cotton seed crop at a price 10 piastres below that of last year, and the Egyptian Government will make up the difference to the growers.
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Bibliographic details
Evening Post, Volume CXXXII, Issue 38, 13 August 1941, Page 6
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131EGYPTIAN COTTON Evening Post, Volume CXXXII, Issue 38, 13 August 1941, Page 6
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