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Agricultural crop exports decline despite pound flotation - Daily News Egypt

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Agricultural crop exports decline despite pound flotation

Egypt’s agricultural exports reached $1.03bn during the period from September 2016 to February 2017, compared to $1.07bn y-o-y


The monthly report issued by the Agriculture Export Council (AEC) showed exports had declined by 3% within six months.

Egypt’s agricultural exports reached $1.03bn during the period extending from September 2016 to February 2017, compared to $1.07bn during the same period the year before.

According to MENA, the exported amounts have declined to 1.67 million tonnes, compared to 1.76 million during the comparison period, with a 5% decline.

Egypt floated the Egyptian pound on 3 November from the level of EGP 8.88 to EGP 18 at the moment. This was expected to give exports a strong push, especially agricultural crops, whose prices were expected to become the cheapest in global markets.

The export season starts in September and continues until August of the following year.

Arab countries topped the list of countries that received Egyptian exports, with an amount of $718m, followed by the European Union (EU) with $193m, then non-EU European countries with $80m, and Asian countries with $25m.

Exports of Egyptian agricultural crops to the Americas and Australia reached $11m, while exports to African countries reached $5m.

Fresh orange exports ranked first in terms of exported amounts by 678,000 tonnes for $253m. The amount of potatoes exported reached 183,000 tonnes for $66m, onions reached 123,000 tonnes for $54m, and pomegranates reached 119,000 tonnes for $96m.

During the period from September to February, Egypt exported 54,000 tonnes of tomatoes for $36m, 49,000 tonnes of white beans for $44m, and 36,000 tonnes of peanuts for $60m.

Total exports of strawberries reached 34,000 tonnes for $83m, large amounts of broad beans for $15m, 29,000 tonnes of fresh lemons for $13m, 29,000 flowers and ornamental plants for $45m.

The exports of fresh mango have reached 20,000 tonnes for $20m, while sweet potato exports reached 18,000 tonnes for $9m.

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https://www.dailynewsegypt.com/2017/04/23/agricultural-crop-exports-decline-despite-pound-flotation/
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