Obourland for food industries has announced its intention to open its Obour Farm next year.
Extending over 42 feddan, Obour Farm is being built with an investment cost of EGP 255m to raise 2,500 cows over four years.
Meanwhile, the company has raised prices of its products by 4% during the current year, but it ruled out making further hikes in the coming period.
A source in the company said that the new farm will cover 25% of the company’s packaged milk production, but cheese production will continue to rely on powdered milk.
Obourland’s milk sales increased 120% year-over-year to 13,200 tonnes in 2020, compared to 6,000 tonnes in 2019. The company’s management targets milk sales of 20,000 tonnes in 2021.
Processed cheese sales reached about 500,000 tonnes in 2020, up from 100,000 tonnes in 2019. The company expects processed cheese sales to hit 1.5-2 million tonnes in 2021 which will translate into EGP 50-60m.