El Maleka Co. for Food Industries aims to increase its exports of pasta to 70,000 tonnes by 2020, compared to 50,000 tonnes expected to be exported by the end of this year.
According to the export director of El Maleka, Mohamed Mamdouh, the company’s exports of pasta during the first eight months of this year amounted to about 38,000 tonnes. An additional 12,000 more tonnes are expected to be exported by the end of the year.
He added that the company is seeking to expand its current export markets, notably Libya and Iraq, as well as opening new markets in the European Union and the United States to reach 70,000 tonnes by the end of 2020.
An estimated 15% of the company’s sales come from exports, and the company seeks to increase it to benefit from the decision of liberalising the exchange rate and the devaluation of the pound against foreign currencies.
He pointed out that prices of pasta have stabilised during the current period after the stage of successive rises witnessed after the floating of the pound and the high prices of inputs of production (flour and packaging materials).
He stressed that the liberalisation of the exchange rate gave Egyptian products a competitive advantage in global markets and increased the value of exports, despite the presence of some negative effects that are expected to disappear gradually after the stability of the dollar.
Mamdouh also pointed the importance of participating in foreign exhibitions and their role in expanding the customer base through direct negotiations. It is also necessary to benefit from trade agreements signed by Egypt with economic blocs, such as Common Market for Eastern and Southern Africa (COMESA), Agadir, and others.
He called for the support of the state to exhibitors in international exhibitions, especially that there is a general attitude in the public regarding promoting Egyptian products. This would positively affect Egyptian exports and increase US dollar proceeds
El Maleka Co. is one of the largest companies in Egypt and owns a fleet of cars to distribute its products in the country. The company produces about 10 varieties of pasta.