Nile Agricultural Industrial Company (AGA) targets 25% growth in its exports this year.
Ahmed El Ayouti, the chairperson of the company, said that the company’s exports last year reached $4m, which the company aims to increase to $5m this year with 25% growth.
He noted that AGA exports to many markets, including Emirates, Saudi Arabia, Africa, North America, and Europe, in addition to expanding into the markets of Asia, including Japan, Korea, Brazil, and Latin America.
The company also aims to open new export markets this year in Europe, East Asia, North Africa.
El Ayouti added that the company is planning on opening two production lines this year with total investments worth $3.5m. The first would be to produce frozen vegetables with a production capacity of 20,000 tonnes to double the production of the factory to 40,000 tonnes. The second would be for manufacturing juices with an annual production capacity of 30,000 tonnes.
AGA will be working to develop products during this period through introducing new types of vegetables and developing juice packages as well as maintaining the prices and improving the quality.
Furthermore, he revealed that the total investments of the company are estimated to be EGP 400m, while the production capacity is 6,000 tonnes annually on the lines of frozen vegetables, juices, jam, and pickles.
Moreover, El Ayouti said that the company is also focusing on the Russian market as one of the largest receivers of agricultural crops and frozen vegetables, so the company is participating in WorldFood Moscow exhibition to benefit from the market export opportunities.
AGA allocates 70-75% of its production to export, as Africa accounts for 50% of the percentage and the rest is directed to the local market.
The company has contracted with Tiba, an agricultural investment company, in order to supply the required amounts of vegetables and fruits to the production lines to be opened this year explained the company’s chairperson.
He emphasised that some of the obstacles facing exporters include a few companies providing low quality products, high-priced products with an increase of 10%, as well as conditions of some countries, which include the requirement of products to obtain the IQF.