Trade – Daily News Egypt https://www.dailynewsegypt.com Egypt’s Only Daily Independent Newspaper In English Thu, 23 May 2019 11:30:37 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.1 Egypt’s trade deficit declines by 2.7% in February https://www.dailynewsegypt.com/2019/05/13/egypts-trade-deficit-declines-by-2-7-in-february/ Mon, 13 May 2019 20:12:28 +0000 https://www.dailynewsegypt.com/?p=698003 Egypt trade deficit reached $3.63bn in February 2019, versus $3.72bn in the same month of the previous year, a decrease of 2.7%.

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The Central Agency for Public Mobilization and Statistics (CAPMAS) issued on Monday the monthly bulletin of “Foreign Trade Data” for February 2019.

The exports’ value increased by 2.2%, reaching $2.48bn during February 2019, versus $2.43bn in February 2018, due to the increase of some commodities’ value, mainly as crude oil by 13.0 %, plastics in their primary form by 29.6%, potatoes by 27.9%, and fresh fruits by 94.2%.

On the other hand, the export value of other commodities decreased during February 2019, compared to February 2018, such as ready-made garments by 4.1%, fertilisers by 5.5%, fresh oranges by 67.8%, and carpets by 9.5%.

The import value also decreased by 7.0% as it reached $6.11bn during February 2019, versus $6.15bn in February 2018, due to the decline of some commodities’ value such as petroleum products by 25.5%, raw materials including iron or steel by 26.5%, cars by 2.0%, and soybeans by 0.9%.

However, the import value of some commodities increased in February 2019, compared to February 2018, including plastics in their primary forms by 15.1%, pharmaceuticals and pharmaceutical preparations by 48.4%, meat by 37.7%, and organic and inorganic chemicals by 4.9%.

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Brazil’s exports to Arab region hit $3.15bn mark in Q1 2019 https://www.dailynewsegypt.com/2019/04/27/brazils-exports-to-arab-region-hit-3-15bn-mark-in-q1-2019/ Sat, 27 Apr 2019 19:24:18 +0000 https://www.dailynewsegypt.com/?p=696845 Total exports to Arab countries at 11.5m tonnes of goods combined

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Brazil’s exports to the Arab region grew to $3.15bn during the first quarter (Q1) of 2019, up from $2.75bn recorded during the same period last year, according to the latest figures released by the Arab-Brazilian Chamber of Commerce (ABCC).

Total exports to Arab countries reached 11.5m tonnes combined during the first three months of the year, a major jump from 9.1m tonnes recorded during the same months in 2018.

The breakdown of data showed that 3.3m tonnes of imported Brazilian products worth $240.37m went to Oman. Bahrain imported 2.3m tonnes of commodities valued at$173.22m from Brazil, while Egypt’s purchase of 1.63m tonnes of products was valued $412.04m. A total of 711.67 thousand tonnes of goods amounting to $479.20m and 650.23 thousand tonnes of products worth $794.53m went to Saudi Arabia and the UAE, respectively.

Rubens Hannun, president of the ABCC, said: “The increasing Brazilian export volume to the Arab world is a result of the strengthened trade relations between the region and the South American country. It also reflects Brazil’s global economic resilience in the midst of challenges. We foresee stronger demand for Brazilian commodities in the Arab world in the coming quarters of the year as the region continues to implement economic programmes to expand trade opportunities and experience steady socio-economic development.”

Iron, maize (corn), sugar, and chicken and bovine meat, and aircrafts were among the Arab region’s top imports from Brazil, sustaining its growing demand both from the industrial sector and the consumer market. The value of chicken meat exported to Arab countries during the period hit the $580.36m mark, while bovine meat reached $275.39m, during the Q1 of 2019.

The leading exported products were meat and edible offal, iron ores and concentrates, including roasted iron pyrites, cane or beet sugar and chemically pure sucrose, in solid form, aircrafts (helicopters and airplanes), spacecrafts ( satellites), and suborbital and spacecraft launch vehicles. corn; turbo-jets, turbo-propellers and other gas turbines, and tubes, pipes, and hollow profiles, seamless, of iron (other than cast iron) or steel.

“We will maintain our efforts to facilitate interaction between these markets and improve their trade relations by establishing effective channels of business communications. The growing popularity and demand for Brazilian products in the region is a reflection of the excellent quality of commodities from the country, whether they be foodstuff or engineering items,” Hannun added.

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Trade exchange between Egypt, Tunisia to increase to $500m https://www.dailynewsegypt.com/2019/04/21/trade-exchange-between-egypt-tunisia-to-increase-to-500m/ Sun, 21 Apr 2019 17:38:31 +0000 https://www.dailynewsegypt.com/?p=696411 Tunisian team will not feel alienated in Egypt, says Tunisian ambassador in Cairo

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Mohsen Adel, chairperson of the General Authority for Investment and Free Zones (GAFI), proposed forming an industrial partnership between Egypt and Tunisia in some products, with the aim of exporting them to other countries.


During the second session of the Egyptian-Tunisian Business Council, Adel said that investment opportunities and the expansion of trade exchange between the two countries are great, and need to be exploited in order to activate the agreements signed between the two countries.


While Gabr Al-Hawat, head of the Tunisian side of the Joint Business Council, stressed that the businessmen of the two countries agreed on the importance of increasing trade exchange between the two countries to $500m.


On the other hand, Tunisia’s ambassador to Cairo, Najib Al-Munif, said relations between the two countries would not be affected by the statement issued by the Tunisian Football Federation and expressed his objection to ignoring Tunisia’s achievement in winning the 2004 Africa Cup of Nations in the documentary film presented during the AFCON draw in Egypt on 21 June, as well as on the Suez Stadium which has not yet been equipped to host the tournament.


Al-Munif told Daily News Egypt: “Such affairs would not affect bilateral relations, it is concerned only with football federations in both countries, I want to emphasise that the relationship between Egypt and Tunisia is wonderful, and I trust that the Tunisian team will be in Egypt as if in his country, and will never feel alienated.”


The Egyptian Federation has responded to the criticism of the Tunisian Football Federation, that all stadiums will be ready before the start of the tournament, and work continues in the stadiums under maintenance.


Tunisia were drawn in Group E against Mali, Mauritania, and Angola, which will play at the Suez Stadium.

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Trade exchange between Egypt, Greece records €1.8bn in 2018 https://www.dailynewsegypt.com/2019/04/17/trade-exchange-between-egypt-greece-records-e1-8bn-in-2018/ Wed, 17 Apr 2019 20:02:07 +0000 https://www.dailynewsegypt.com/?p=696213 The trade exchange between Egypt and Greece increased in 2018 by 37.5%, reaching €1.8bn, compared to €1.3bn in 2017, the Minister of Trade and Industry of Egypt, Amr Nassar, stated on Wednesday. He continued that Egypt’s exports to Greece increased by 15.3% over the past year, reaching €640m, up from €555m in 2017. His remarks …

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The trade exchange between Egypt and Greece increased in 2018 by 37.5%, reaching €1.8bn, compared to €1.3bn in 2017, the Minister of Trade and Industry of Egypt, Amr Nassar, stated on Wednesday.

He continued that Egypt’s exports to Greece increased by 15.3% over the past year, reaching €640m, up from €555m in 2017.

His remarks came during his meeting with Greece’s Deputy Prime Minister, Yannis Dragasakis,

which dealt with the future of economic cooperation between the two countries, in addition to discussing a number of issues on the global agenda during the current stage.

For his part, Dragasakis stressed the importance of strategic relations between the two countries, which extended to the tripartite cooperation between Egypt, Greece, and Cyprus, pointing to the interest of European countries – especially the East – to find opportunities for cooperation both in Egypt and African countries.


He reviewed the development of economic conditions in Greece following its exit from the aid programme of the International Monetary Fund and the European Union, where Greece was able to have surplus in the state budget which allowed it to pay its debts until 2023.

“Greece is currently putting in place new legislative frameworks to attract more investments, as well as studying the establishment of a Greek Development Bank, to finance projects,” he added.


“Greece is also considering setting up joint investment funds, as what it has done with the UAE, with the aim of funding joint ventures,” he continued.

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Egypt-US trade exchange, economic cooperation prospects versus challenges https://www.dailynewsegypt.com/2019/04/08/egypt-us-trade-exchange-economic-cooperation-prospects-versus-challenges/ Mon, 08 Apr 2019 09:00:41 +0000 https://www.dailynewsegypt.com/?p=695308 Possibility of free trade agreement between Egypt, US was one of the most prominent files receiving support from Egyptian business community, says Mohanna Egypt’s trade exchange with the United States rose to $7.54bn in 2018, according to latest US Census Bureau data, marking 34.16% increase compared to 2017. In 2018, Egypt’s exports increased by 26.93%, …

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Possibility of free trade agreement between Egypt, US was one of the most prominent files receiving support from Egyptian business community, says Mohanna

Egypt’s trade exchange with the United States rose to $7.54bn in 2018, according to latest US Census Bureau data, marking 34.16% increase compared to 2017.

In 2018, Egypt’s exports increased by 26.93%, while its imports rose by 51.77%. The US surplus with Egypt was $2.58bn.

Egypt ranked 53rd among the United States’ top trade partners through the current period. In the same period one year ago, Egypt ranked 58th.

The top five US exports to Egypt by value in 2018, were soybeans, corn, coal, briquettes, scrap iron, steel, and petroleum gases, other gaseous hydrocarbons. They accounted for 43.71% of total exports to Egypt.

While the value of the top five categories of US imports from Egypt include oil, gasoline, other fuels, men’s or boys’ slacks, suits, not knit, sweaters, pullovers, vests, knit or crocheted, and women’s or girls’ suits, not knit, accounting for 52.7% of all inbound shipments.

According to Omar Mohanna, chairperson of the Egypt-US Business Council, the possibility of a free trade agreement between Egypt and US was one of the most prominent files receiving support from the Egyptian business community.

Tarek Tawfik, chairperson of the American Chamber of Commerce (AmCham) in Egypt, said that starting negotiations on the free trade agreement will contribute toward enhancing the Egyptian trade system through fixing the process of specifications, customs, and eliminating of impeding measures, therefore, the agreement will enhance the competition and the development process.

However, a US Department of State official, told Daily News Egypt earlier that a free trade agreement between the two countries is not currently on the table, adding, “We are aware of the importance of this file for the Egyptian side and we want to support and encourage it, but we cannot seriously think about it unless the Egyptian government, for its part, removes many of the obstacles that prevent this.”

“Enforcing property rights and removing tariff barriers are perquisites to a free trade agreement,” he explained.

Moreover, the source pointed out that some obstacles which hinder initiating the debate on the free trade file are the customs. He pointed out that US companies greatly suffer from the customs’ bureaucracy.

Looking more closely at US exports to Egypt:

  • Soybeans rose 219.22% compared to last year to $1.16bn.
  • Corn rose 929% compared to last year to $322.58m.
  • Coal, briquettes rose 50.15% compared to last year to $273.23m.
  • Scrap iron, steel rose 121.54% compared to last year to $261.75m.
  • Petroleum gases, other gaseous hydrocarbons rose 8.05 percent compared to last year to $188.95m.

Looking more closely at US imports from Egypt:

  • Oil rose 184.44% compared to last year to $458.5m.
  • Gasoline, other fuels rose 1105.87% compared to last year to $363.95m.
  • Men’s or boys’ slacks, suits, not knit rose 11.77% compared to last year to $198.58m.
  • Sweaters, pullovers, vests, knit or crocheted rose 34.59% compared to last year to $157.9m.
  • Women’s or girls’ suits, not knit rose 2.36% compared to last year to $128.81m.

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Egypt’s trade deficit increases by 14.1% in December 2018 https://www.dailynewsegypt.com/2019/03/12/egypts-trade-deficit-increases-by-14-1-in-december-2018/ https://www.dailynewsegypt.com/2019/03/12/egypts-trade-deficit-increases-by-14-1-in-december-2018/#respond Tue, 12 Mar 2019 17:34:20 +0000 https://www.dailynewsegypt.com/?p=692752 Exports hike by 2.1% in same period, says CAPMAS

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Egypt’s trade deficit reached $3.87bn in December 2018, up from $3.39bn in the same period of 2017, an increase of 14.1%, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS).

Prime Minister Mostafa Madbouly announced earlier this month that the government is determined to implement a new strategy to increase the volume of Egyptian exports, as this will create more jobs, expand production, and increase the country’s foreign exchange revenues, thus improving the country’s trade balance.

The agency’s monthly bulletin of Foreign Trade Data in December 2018 showed that the exports’ value increased by 2.1%, reaching $2.57bn during December 2018, compared to $2.52bn in December 2017.

It added that this increase in exports is due to an increase in the value of some commodities, such as ready-made clothes, plastics in their primary forms, and fresh orange among others.

“While the exports’ value of some commodities decreased during December 2018, compared to the same month of the previous year, such as crude oil, fertilisers, and fresh fruits,” the CAPMAS added.

It stated that the exports’ value of ready-made clothes, plastics in their primary forms, and fresh orange increased in December 2018 by 10.4%,10.2%, 40.2%, respectively.

On the other hand, the CAPMAS stated that imports’ value increased by 9.0%, reaching $6.44bn during December 2018, up from $5.91bn during the same month of 2017.

It explained that this increase in exports is due to an increased value of some commodities, such as cars rising by 28.7%, plastics in their primary forms by 7.4%, pharmaceutical products by 24.3%, and organic and inorganic chemicals by 4.4%.

Meanwhile, imports of some commodities decreased in December 2018, compared to the same month of 2017, such as raw materials of steel by 28.2%, wheat by 1.1%, meat by 14.4%, and crude oil by 46.8%.

Notably, Egypt’s cabinet spokesperson, Nader Saad, stated last Friday that the state’s strategy includes increasing the value of exports from $24.8bn currently to $55bn, an increase of $30.2bn.

Saad noted that they also aim to increase the number of new manufacturers and commercial exporters, in addition to expanding the number of existing manufacturers, as well diversifying the products and services exported and subsequently increasing their competitiveness.

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Nile Garden targets EGP 140m exports in 2019 https://www.dailynewsegypt.com/2019/03/02/nile-garden-targets-egp-140m-exports-in-2019/ https://www.dailynewsegypt.com/2019/03/02/nile-garden-targets-egp-140m-exports-in-2019/#respond Sat, 02 Mar 2019 10:30:40 +0000 https://www.dailynewsegypt.com/?p=691556 Plan to double production capacity to 8,000 tonnes this year: Nabil

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Nile Garden for Food Industries Company aims to achieve exports worth EGP 140m this year with 40% growth.

Ahmed Nabil, the company’s commercial manager, said that Nile Garden achieved exports worth EGP 100m last year and seeks to increase them through opening new markets over the upcoming period.

Nabil explained that the company plans to enter a number of countries in Africa and South American countries as well as the Gulf countries.

He pointed out that 80% of the company’s production is directed toward export, while 20% is allocated for the local market.

Nile Garden plans to increase its production capacity to 8,000 tonnes for oils and olive oil this year compared to 6,000 tonnes in 2018, he added.

Nabil pointed out that the company plans to add three production lines for the packaging of olives and olive oil this year.

He highlighted that Nile Garden will open its new factory in Dina Farms area in Sadat City, with investments of EGP 40m pounds in mid-June.

Furthermore, he added that the company has completed the factory’s construction on an area of ​​21,000 sqm to become the fourth factory for Nile Garden Sadat City alongside with three other factories in Suez, Siwa,and Nubaria.

He added that Nile Garden is seeking new products this year, including canned cucumbers, grape leaves, olives, and olive oil.

Moreover, Nabil said that the company relies on 90% of the raw materials needed domestically while the remaining 10%-which are mainly chemicals-are imported from Europe.

The trade manager of Nile Garden attributed the drop in the company’s exports last year to the climatic conditions that hit the country in March and April of last year.

Nabil explained that the volatile climate at that time and the strong seasonal winds have led to a lack of sufficient productivity in the farms and lack of supply due to crop damage.

The company’s sales fell by 50% last year, he added, expecting the company to compensate for the decline in exports of 2019 as the harvest season approaches, he remarked.

In a related context, Nabil said that delaying the exchange of export subsidies for factories and increasing the prices of packaging is one of the main obstacles facing the industrial sector in Egypt.

Plus, he stressed that the prices of olives and olive oil have increased by 50% last year, as the price of a tonne of olives reached EGP 15,000 instead of EGP 10,000.

Also, he added that Egypt is suffering from a shortage of supply of olive oil, which leads to a rise in price compared to the competing markets by 40%, especially in the markets of Spain, Italy, Greece, and Turkey.

Nile Garden is keen on participating in foreign exhibitions to expand the export area, open new markets, and increase sales, Nabil said.

He pointed out that Egyptian fresh and canned fruits and vegetables are popular abroad because of their quality compared to their prices.

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AGA target 25%growth in exports this year https://www.dailynewsegypt.com/2019/03/02/aga-target-25growth-in-exports-this-year/ https://www.dailynewsegypt.com/2019/03/02/aga-target-25growth-in-exports-this-year/#respond Sat, 02 Mar 2019 10:00:15 +0000 https://www.dailynewsegypt.com/?p=691554 Chairperson: $3.5m to be injected in juices, frozen vegetables production lines

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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.

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Oil Tec For Oils & Detergents aims to increase its exports to $25m https://www.dailynewsegypt.com/2019/03/02/oil-tec-for-oils-detergents-aims-to-increase-its-exports-to-25m/ https://www.dailynewsegypt.com/2019/03/02/oil-tec-for-oils-detergents-aims-to-increase-its-exports-to-25m/#respond Sat, 02 Mar 2019 09:30:37 +0000 https://www.dailynewsegypt.com/?p=691551 Company exports 70% of production, seeking to raise this percentage during 2019 to 85%: Export Manager

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Oil Tec For Oils & Detergents aims to increase its exports to $25m by the end of 2019, compared to $17m in 2018 with a growth of 47%.

“Oil Tec For Oils & Detergents achieved 30% growth over last year compared to 2017 thanks to the modernisation of its production lines,” said Omnia Morgan, the company’s exports manager.

She said that they are currently exporting to the countries of Kenya; Madagascar; Rwanda; Mauritius; Kuwait; Iraq; Qatar; Palestine, and Libya, and aims to expand exports to the Arab world in 2019, in addition to entering the markets of Sudan, Djibouti, Malawi, Zambia, and Zimbabwe. “

Furthermore, she noted that the company relies on exports to secure hard cash which improves the value of sales and offsets the cost of electricity, fuel, and transport, especially following the recent price hikes in the local market in the wake of the float of the Egyptian pound.

Morgan explained that the company exports 70% of its production while seeking to raise this percentage during the year to 85% through the dissemination of its products through marketing managers in 11 Arab and African countries.

The company continues to distribute 30% of its production to the local market for many products, most notably Royal oil. It is distributed in major commercial chains such as Khair Zaman, and Metro Market.

Moreover, Morgan pointed out that the company produces four types of edible oils, namely, soybean oil, sunflower oil, corn oil, and mix oil, as well as butter and margarine.

The company also produces two types of detergent, toilet soap and detergent, in different sizes, colours, and smell, in addition to raw glycerol, which is included in creams, most natural mixtures.

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El Reyada For Rice Milling eyes 25% growth in exports https://www.dailynewsegypt.com/2019/03/02/el-reyada-for-rice-milling-eyes-25-growth-in-exports/ https://www.dailynewsegypt.com/2019/03/02/el-reyada-for-rice-milling-eyes-25-growth-in-exports/#respond Sat, 02 Mar 2019 09:00:15 +0000 https://www.dailynewsegypt.com/?p=691550 Company aims to increase exports to $50m in 2019, compared to $40m last year: Chairperson

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El Reyada For Rice Milling aims to increase its exports by 25% compared to last year by expanding into new markets.

Mahmoud Al-Waili, chairperson of El Reyada For Rice Milling, said that exports in the last year reached $40m and aims to increase that to $50m this year. He pointed out that the company has already started opening new markets last year in the countries of the East Asia such as Indonesia, Pakistan, and Singapore, which imports large quantities of Egyptian fava beans for its high quality and is used in the manufacture of crackers.

He explained that the company also opened other markets in Eastern Europe through the export of the white beans and aims to expand there in the current period, in addition to the rest of Europe and the Gulf countries.

Al-Waili added that the company produces many Egyptian crops, such as rice, fava beans, beans and lentils, as well as imported crops such as Turkish red lentils, Australian and British beans, Russian and Ukrainian peas. Exports represent 35% of total sales.

Furthermore, he elaborated that the company has four rice mills with a daily total capacity of 400 tonnes, as well as a 100-tonne-per-day bean ranch beside a sowing plant for all crops, including beans and sesame with a daily capacity of 100 tonnes.

Moreover, he stated that it is intended to establish a new production line to increase the productive capacity of the bean mill to reach a daily 200 tonnes compared to 100 tonnes currently to cover the company’s contracts. The company will also set up a silo to store grain with storage capacity of 10,000 tonnes before the end of this year.

The company also imported about 30,000 tonnes of Indian and Vietnamese rice, which will be put in the local market. It also plans to import 200,000 tonnes of rice more this year mentioned the company’s chairperson..

Al-Waili stressed the importance of changing the current subsidy system, since the subsidy has not been disbursed to the company since 2016, referring to the importance of supporting exporters as an incentive to increase investments and export.

Additionally, he indicated that removing subsidies on fuel and energy after the liberalisation of the exchange rate caused an increase in production costs.

Over and above he emphasised the importance of participating in foreign exhibitions as a means of gathering a large number of companies from different countries, which contributes to promoting the Egyptian product and opening new markets in many countries.

What’s more, he called for increased support for participation in large international exhibitions, especially for small exporters to help them expand their business.

In addition, he remarked that the company is mainly involved in a number of international exhibitions specialized in the sector, such as Sial Paris, Anuga in Germany and Gulfood.

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Horreia Food Industries target 25% increase in exports in 2019 https://www.dailynewsegypt.com/2019/03/02/horreia-food-industries-target-25-increase-in-exports-in-2019/ https://www.dailynewsegypt.com/2019/03/02/horreia-food-industries-target-25-increase-in-exports-in-2019/#respond Sat, 02 Mar 2019 08:30:43 +0000 https://www.dailynewsegypt.com/?p=691542 Company's market share is 25%, but plans to reach 40% in 2019: Commercial Director

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Horreia Food Industries aims to increase the volume of its exports by 25% during the current year. It will also add two new production lines to cope with increased demand in the local market as well as exports, according to Essmat Youseef, the company’s commercial director and Essam Harby, its exports manager.

Youssef said that the company offers new and developed products annually because it is a luxury product and without change and renewal the market will be lost. They do so by introducing new flavours or new types.

He pointed out that Horreia Food Industries aims to deepen its presence in the Arab and African markets and East Asia, where the company is already present but still aims to increase exports.

Harby revealed that the volume of export amounts to $1.5m with plans to increase that by 25% this year.

He pointed out that the export rate reaches only 20% of the company’s production volume compared to 80% of the production that is distributed locally, which is unsatisfactory. The company seeks to increase the rate in the coming period to boost exports to 40% of production.

Youssef said that the liberalisation of energy prices led to an increase in product prices by 12% and the erosion of part of the profits of the company so as not to charge the full increase on the consumer.

He added that companies are forced to increase the prices of their products when there is an increase in costs, noting that the expected increase in energy prices in June will be followed by an increase in the production prices.

Furthermore, he pointed out that the company owns its own factory in the 10th of Ramadan City and covers all the production that the company needs.

Moreover, he said that his company contracted with exclusive agents to distribute products in all governorates of the Republic.

The company will add two new production lines this year to keep up with the increase in exports and increased domestic demand for products, noted the company’s commercial director.

Additionally Youssef highlighted that the company’s market share reached 25% but plans to reach 40% of the market this year after introducing new products.

He emphasised that the company aims to participate in export exhibitions as they represent an opportunity to meet customers from Eastern Europe, Asia, and Arab countries in order to enter new markets.

Over and above, he added that the company does not find it difficult to participate in foreign exhibitions.

Finally, he stressed that there are a lot of facilities for companies when participating in foreign exhibitions by government agencies or the Food Export Council.

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Badr Eldin Farms depends on new types of dried fruit https://www.dailynewsegypt.com/2019/03/02/badr-eldin-farms-depends-on-new-types-of-dried-fruit/ https://www.dailynewsegypt.com/2019/03/02/badr-eldin-farms-depends-on-new-types-of-dried-fruit/#respond Sat, 02 Mar 2019 08:00:40 +0000 https://www.dailynewsegypt.com/?p=691541 Company studying market to take advantage of high demand ahead of Ramadan

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Badr Eldin Farms intends to export its products to South Africa and Germany during the current year, and increase its exports to 50% of its production in order to expand its exports to Africa.

Hany Badr Eldin, chairperson of the company, said that they aim to increase exports during 2019 by over 20%, compared to exports last year.

He pointed out that most of the company’s exports are to Arab countries, and they seek to increase production during the current year by 70%, to reach 1,500 tonnes, compared to the present 800 tonnes, through increased production of dried fruit.

Furthermore, the chairperson highlighted that the company aims to benefit from the increased demand for dried fruits in the local market as well as the global market by relying on new types of dried fruits such as dried apricots, strawberries, mango, basil juice, and ready-made juices for Ramadan, including tamarind, hibiscus, mango, and apricots, and intends to participate in the Gulfood exhibition.

“The peak of the company’s sales and exports is the month of Ramadan, as many of the company’s products are Ramadan products. The export season begins in May with the start of grape production for the production of raisins,” added Badr Eldin.

The company mainly relies on raisin products, of which 50% is exported. About 30% of apricots are exported, while dried mangoes and strawberries were exported two years ago to Kuwait.

Moreover, he pointed out that the company directed about 35% of its production for export last year, mostly to the markets of the Gulf states, Jordan, Iraq, Lebanon, and Morocco.

The company opened its latest production line this year to manufacture basil seeds syrup, which were first manufactured in Egypt, and were imported from Thailand and Vietnam. Badr Eldin Farms benefited from its local market share to serve as a substitute for imports, in addition to exporting to Saudi Arabia, Jordan, Iraq, Kuwait, and Lebanon.

In addition, he noted that the company relied on raisins for 12 years, then diversified its portfolio and included new products, such as dried lemons in 2009, which are exported to the gulf. The company then expanded into new types of dried fruits, including strawberries and mangoes, which were used to enter the Iraqi, Jordanian, and Kuwaiti markets.

The company seeks to continuously expand through the development of new production lines so as to increase its products and benefit from the availability of fruits in the local market, as well as the development of new types of dried fruits, including cantaloupe and dried watermelon, to take advantage of export opportunities and grab a share of the local market.

Additionally, the company is currently working to reduce the energy consumption costs by relying on energy experts. It is looking to rely on solar energy, in cooperation with the Industrial Modernisation Centre, to create a solar plant in order to reduce the manufacturing expenses so that it can compete in the world markets.

Over and above, the company is currently studying the requirements of local and foreign markets to take advantage of the high demand ahead of the month of Ramadan. Badr Eldin emphasised that the company contracted to export dried apricots and exported dried lemons in preparation for the month of Ramadan, and is targeting Arab countries with the company’s products of ready-made juices.

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AGREEN aims to export 200,000 tonnes of citrus fruits in 2019 https://www.dailynewsegypt.com/2019/02/25/agreen-aims-to-export-200000-tonnes-of-citrus-fruits-in-2019/ https://www.dailynewsegypt.com/2019/02/25/agreen-aims-to-export-200000-tonnes-of-citrus-fruits-in-2019/#respond Mon, 25 Feb 2019 11:30:47 +0000 https://www.dailynewsegypt.com/?p=690975 Production capacity to increase to 500,000 tonnes of citrus within 5 years

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Green Egypt for Agricultural Investment Company (AGREEN) aims to export 200,000 citrus fruits by the end of 2019, as well as to increase its production to 500,000 tonnes of citrus fruits within five years.

Hazem Abdel Sadek, the export manager at AGREEN, said that the company is planning to increase its exports by 25% by the end of this year, as its products are exported to about 66 countries across the world.

Abdel Sadek also added that the exports of the company reached 150,000 tonnes of citrus fruits last year, noting that the company specialises in exporting citrus fruits only which are exported to the majority of the global markets around the world.

He explained that there is a decline in global demand for oranges, noting that the company has its global clients who regularly request the amounts which are contracted on, based on negotiations with its clients in traditional markets.

Moreover, he added that the European market accounts for 35% of the company’s exports, and East Asia accounts for 20% of the exports. On the other hand, Africa and Arab countries account for 45%, as the company works with Kenya, Mauritius, and Tanzania.

Furthermore, Abdel Sadek explained that the company has increased the areas of agricultural lands in its farms in order to boost its production to 500,000 tonnes of citrus fruits which are suitable for export throughout five years. It also plans to establish two packaging stations over the next two years, in addition to two stations which have already been established.

Citrus fruits have a high export demand, and it increases every year, as stated by Abdel Sadek. The company also relies on its farms’ production in order to meet the needs of the international market, while the remaining quantities remain in the local market.

Abdel Sadek noted that the company aims to increase its exports in the markets of East Asia such as China and Vietnam, in addition to Australia, through increasing the number of clients in these markets over the upcoming period.

He further explained that allowing exports from all companies has caused major losses for bigger companies which have packaging stations, as small companies resort to reducing their prices and relying on products of a lower quality.

Over and above, Abdel Sadek clarified that lack of strict controls over exports affects the reputation of Egyptian products, resulting in Egyptian products becoming inadequate compared with those of other countries, therefore becoming unable to compete with them, in addition to finding difficulty in entering new markets.

In addition, he stressed the importance of controls over export stations, and the essence of activating the role of the agricultural quarantine in order to combat agricultural pests which cause major losses to crops.

Notably, AGREEN started its business in 1995 by reclaiming 1,000 feddan of fertile soil to cultivate all kinds of citrus fruits in three main areas: the Valley of the Kings, Wadi Al Natroun, and Al Sadat City.

By the end of 2017, the company’s lands reached 18,500 feddan, producing 200,000 tonnes. The company also aims to allocate about 30% of the cultivated trees, which are not included in the production line, in order to increase the company’s exports over the upcoming period.

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Venus International Transport shipped 43,000 tonnes of agriculture crops via EgyptAir last season https://www.dailynewsegypt.com/2019/02/25/venus-international-transport-shipped-43000-tonnes-of-agriculture-crops-via-egyptair-last-season/ https://www.dailynewsegypt.com/2019/02/25/venus-international-transport-shipped-43000-tonnes-of-agriculture-crops-via-egyptair-last-season/#respond Mon, 25 Feb 2019 11:00:24 +0000 https://www.dailynewsegypt.com/?p=690967 Strawberry exports to European market exceed quota, logged 14,000 tonnes in 2018, says Vice Chairperson

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Venus International Transport has shipped 43,000 tonnes of agricultural products during 2018, down from 45,000 tonnes in 2017, through several airlines, most prominently EgyptAir.

Ahmed Fouad, vice chairperson of the company, said that air shipping accounts for only 2% of global trade, against 98% for maritime and land shipping.

He added that air transport, despite its market share in terms of quantities, represents 30% of the value of shipped items.

Fouad said that the company moved 43,000 tonnes last year, after the market suffered several problems, such as lack of space on planes and the cancellation of some flights.

Furthermore, he stated that the market was also adversely affected by a 4% raise in electronic trade movement and the increased exchange between China and European countries, which prompted global airlines to focus their operations there, thus raising the cost of air shipping by 10-15%.

Moreover, he pointed out that air transport companies provide a service to the Egyptian exporter, and should be distinguished by the rapid provision of export spaces upon demand. For example, exporters should be able to seek an increase or a decrease in the pre-agreed upon amounts only 48 hours prior to the flight and airlines should be capable of accomodating the request swiftly.

Should there be no available spaces on EgyptAir, then exporters ought to resort to spaces available on foreign airlines which have scheduled flights. And the third option is renting foreign cargo planes, explained the vice chairperson of the company.

In addition, Fouad highlighted that the company has received the agency of a number of international airlines alongside EgyptAir, which have three or four cargo flights per day, such as Saudi Airlines, Emirates, Etihad, Lufthansa, and Jordan Air, in addition to the Italian, Ethiopian and French airlines.

The export season of vegetables and fruit continues for a period of eight months only, between mid- October until May of next year. December and January are the peak of the season and alone account for 35% of the season.

Strawberry exports to the European market have significantly developed during the current season, growing by 30% since the beginning of the season in November 2018 to the end of January this year, he highlighted.

Additionally, he added that the EU grants the Egyptian strawberry a quota of 11,600 tonnes in order to enter the market custom-free. Egyptian companies surpassed this ratio and were consequently subjected to customs of €400 per tonne starting from the last week of January.

What’s more, Fouad noted that strawberry exports increased from 8,500 tonnes in 2016 to 12,000 tonnes in 2017, and exceeded 14,000 tonnes last year.

He stressed that the current season witnessed an airlines crisis which witnessed the transformation of international airlines into forming three large economic blocs, namely China, Europe, and the US.

Plus, Fouad remarked that the three blocs dominate 80% of the global trade and currently trade movement between them is quite active, which pushed international companies to move toward these markets at the expense of the other markets.

Over and above, he explained that the cost of transportation between China and Europe ranges from $6 to $10 per kilogram and reached €20 between Europe and the US, against $1 from Egypt.

Fouad also indicated that the most prominent products transported by the company from Egypt to Europe include strawberries, grapes, green beans, and peaches.

Noteworthy, he referred to Morocco, Kenya and Senegal as the biggest competitors, in addition to Spain, which enjoys closer proximity to the European market as well as low freight transport costs.

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Oriental for Agricultural Products targets EGP 275m of exports in 2019 https://www.dailynewsegypt.com/2019/02/25/oriental-for-agricultural-products-targets-egp-275m-of-exports-in-2019/ https://www.dailynewsegypt.com/2019/02/25/oriental-for-agricultural-products-targets-egp-275m-of-exports-in-2019/#respond Mon, 25 Feb 2019 10:30:29 +0000 https://www.dailynewsegypt.com/?p=690969 Oriental for Agricultural Products aims to maintain its growth in sales achieved over the past year by increasing the volume of its contracts in existing markets, and through introducing new products to the export list. The Chairperson of Oriental for Agricultural Products, Wael Soliman, said that the company aims to maintain its sales momentum of …

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Oriental for Agricultural Products aims to maintain its growth in sales achieved over the past year by increasing the volume of its contracts in existing markets, and through introducing new products to the export list.

The Chairperson of Oriental for Agricultural Products, Wael Soliman, said that the company aims to maintain its sales momentum of the past year by dealing with a range of markets, such as Africa, Latin America, Canada, Hong Kong, China, and Singapore.

Soliman explained that the company achieved sales of EGP 275m last year, up from EGP 100m in the previous year, marking a growth of 175%.

He referred to the company’s efforts through the appreciation of the euro against the dollar recently, which supports Egyptian crops directed to this region, especially in the profits reached.

Moreover, Soliman explained that Oriental for Agricultural Products focused on exporting to Canada and Africa, along with its typical markets.

The chairperson explained that his company exports orange as a major crop, as well as strawberries and grapes, in addition to exporting onions and pomegranates.

For target markets, Eastern Europe acquires 50% of the company’s annual exports, while East Asian countries get 25%. Kenya has been a new destination for the company since 2017.

Furthermore, he highlighted the importance of increasing the internal coordination between the authorities responsible for Egyptian exports, especially as there are many markets where exporters need to expand to, including markets in Africa, where exporters’ presence is weak.

In addition, Soliman noted that the opening of China’s markets to the citrus crop was a good start to the introduction of other products such as grapes, which greatly enhances the entire export sector.

Egyptian agricultural products are characterised by their high quality, compared to crops of other competing countries, praising the coding system which guarantees this quality, he pointed out.

Regarding the European market, Soliman said it has reached a state of saturation as most of the Egyptian exporters target it, due to competition from the markets of Morocco, Spain, and Israel. Accordingly, Egypt must expand into increasingly competitive new markets.

In terms of export development, the presence of international exhibitions is a strong step toward identifying new customers and new markets which could make the company export new products.

Over and above, Soliman explained that exhibitions provide an opportunity for companies to learn about new technologies used around the world, which can benefit the Egyptian exporter, whether in terms of the cost or compatibility with foreign consumers.

Concerning East Asian markets, Soliman stated that the company has been working in orange and grape crops since last season, and has succeeded in achieving positive results. Patently, dates will be exported to East Asian markets for first time this year.

Further to this, he pointed out that 50% of the company’s exports of grapes during the last season were acquired by East Asian markets, especially since their export season is different from other countries’.

Egypt has signed a protocol of cooperation with China for the export of grapes and citrus products only, which makes things difficult as other markets accept more products such as Hong Kong, Indonesia, and the Philippines.

What’s more, Soliman highlighted that the company exported 60 containers of grapes in the last season to East Asian countries, up from 20 containers in the previous season.

Noteworthy, the company also received the Fair Trade Certificate in the third quarter of last year, which will designate the company to contract with more clients in the EU in the coming years.

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Wadi El Nile to set up sorting, packaging station with EGP 20m investments in 2019 https://www.dailynewsegypt.com/2019/02/25/wadi-el-nile-to-set-up-sorting-packaging-station-with-egp-20m-investments-in-2019/ https://www.dailynewsegypt.com/2019/02/25/wadi-el-nile-to-set-up-sorting-packaging-station-with-egp-20m-investments-in-2019/#respond Mon, 25 Feb 2019 10:00:51 +0000 https://www.dailynewsegypt.com/?p=690966 Company exports its products to 27 countries, mostly Southeast Asia

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Wadi El Nile for the export of agricultural crops will establish a sorting and a packaging station with investments of EGP 20m during 2019.

Ahmed Elabagy, chairperson of the company, said that the station will be specialised in the sorting and packaging of citrus fruits, grapes, and pomegranates. The construction process is scheduled to begin this year, and its activation is planned for 2020.

He pointed out that the station will be established at the Cairo-Alexandria desert road, which will contribute toward reducing the production cost, and thus increase the competitiveness of the company in terms of prices, thereby allowing it to expand.

Elabagy asserted that the company started exporting to the Canadian market during the current year. The volume of exports is initially limited, yet the company aims to increase the quantities during the coming period, and also seeks to enter the South Korean market in the near future.

Moreover, Wadi El Nile intends to penetrate the US market through participating in a specialised exhibition in the country in May, as well as take part in exhibitions in Canada, according to Elabagy.

He confirmed that the company is currently exporting limited quantities of vegetables to Japan, such as broccoli, beans, strawberries, green onions, and peppers, explaining that penetrating these markets will contribute toward increasing the company’s exports by 30% during the coming period.

Furthermore, Elabagy added that the European market represents about 20% of the company’s exports, and the Netherlands, Greece, England, Belgium, and Poland, are among the top European export destinations, in addition to Ukraine and Russia.

“The company’s exports volume during 2018 rose by about 20% across all the product varieties to reach 20,000 tonnes, in comparison with 2017,” he indicated.

Furthermore, Elabagy highlighted that Wadi El Nile intends to cultivate new varieties of grapes, and it has imported new seeds for its cultivation such as black grapes, as well as crimson red grapes from California.

The company also aims to maintain its exports rate during 2019, especially in light of the decline in demand for citrus fruits since the beginning of the season in October, according to Elabagy.

The company specialises in the export of citrus fruits such as oranges and lemons, as well as pomegranate; grapes; strawberries; green onions; garlic; pepper; avocadoes, and leafy vegetables such as cabbage. Citrus fruits alone accounts for 60% of the exports, valued at $4m last year.

Noteworthy, Wadi El Nile exports its products to 27 countries, mostly to Southeast Asian countries. Exports include citrus fruits, including oranges and lemons to Bangladesh, China, Vietnam, Myanmar, Cambodia, and Sri Lanka.

The company also exports to the Fiji Islands near New Zealand but in limited quantities, and to the Philippines through Hong Kong, in addition to Indonesia, Malaysia, and Australia. Moreover, Arab countries account for about 20% of the company’s exports, mainly the UAE, Saudi Arabia, Kuwait, and Iraq.

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IFCG plans to establish frozen vegetables factory with investments worth EGP 350m https://www.dailynewsegypt.com/2019/02/20/ifcg-plans-to-establish-frozen-vegetables-factory-with-investments-worth-egp-350m/ https://www.dailynewsegypt.com/2019/02/20/ifcg-plans-to-establish-frozen-vegetables-factory-with-investments-worth-egp-350m/#respond Wed, 20 Feb 2019 13:30:44 +0000 https://www.dailynewsegypt.com/?p=690472 Target increase potato production capacity to 55,000 tonnes this year, compared to 32,000 last year

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The International Food and Consumable Goods Company (IFCG) is planning to establish a new factory for the production of frozen vegetables after the increased demand, with investments worth EGP 350m. Construction operations are likely to start next year.

Mohamed Habib, the company’s export manager, said that the trend towards frozen vegetables production came after the demand for the company’s products increased this year, in parallel with the rise in the global demand for processed potatoes in view of the decline in Europe’s production of potatoes by 25%.

Habib explained that the company has successfully concluded contracts to supply its products to McCain in order to meet the needs of the company’s clients in Latin America, in addition to contracting with Eipico on the production of processed potatoes.

He pointed out that the company aims to increase its production volume of potatoes and sweet potatoes this year to 55,000 tonnes, compared to 32,000 tonnes last year, in addition expanding its presence in its share in the local market, in conjunction with the pressure for more demand on the European market products.

“The company will determine its plan to expand during the fourth quarter of this year in order to understand the volume of export demands, including various products, such as processed potatoes, sweet potatoes, and frozen vegetables,” Habib said.

Furthermore, he indicated out that the company relies on obtaining 70% of its potato needs from its own farms on 1,100 feddan, while contracts were signed with farmers to provide the rest of the needs, in addition to the company’s trend to store quantities of the crops produced in order to meet export needs the whole year.

Moreover, the company’s export manager added that the decline in the global production of potatoes last season opened new export markets before the company’s products and increased the demand on the company’s products from its professional markets. The company had contracted to provide 4,000 tonnes of potatoes to Japan this year, in addition to other amounts directed to the markets of Southeast Asia.

Exports account for 70% of the company’s processed potato sales and about 100% of processed sweet potatoes, as most of these products go to the markets of Saudi Arabia; Emirates; Jordan; Sudan; Iraq; Syria;, Kuwait; Oman; Libya; Tunisia; China; Taiwan, and Belgium.

He also further noted that the US is the centre of the industry of processed potatoes.

Additionally, Habib expected a potential deficit in importing potato seeds from Europe during the upcoming season as a result of a decline in the production of the European market which would also affect the area cultivated with potatoes.

Regarding the company’s sweet potato production, he stressed that it will be getting a good chance over the upcoming period, especially in light of its price decline in international markets, emphasising that the US is the main worldwide producer of sweet potatoes.

Over and above, he noted that the company has contracted with an international company to develop processed sweet potatoes so that it gets the company’s entire production for two years, raising the production to 3,700 tonnes last year, compared to 1,500 tonnes in 2017.

The European market accommodates any additional amounts of sweet potatoes, he said and added that the market of Southeast Asia and Latin America demand large amounts of products, remarking that the company cannot conclude export contracts before the contract with the international company ends with the end of this season in July, he explained.

Over and above, Habib stressed that the company seeks to benefit from the agreements of free trade that Egypt finalised with African countries, in addition benefiting from the state bearing 50% of the cost of shipping to Africa, along with exporting through the QIZ agreement to enter the American market custom-free. This is coinciding with an increase in demand from US companies on the company’s products.

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Egyptian Nile Food Industries Company awaits potato factory licenses https://www.dailynewsegypt.com/2019/02/20/egyptian-nile-food-industries-company-awaits-potato-factory-licenses/ https://www.dailynewsegypt.com/2019/02/20/egyptian-nile-food-industries-company-awaits-potato-factory-licenses/#respond Wed, 20 Feb 2019 13:00:29 +0000 https://www.dailynewsegypt.com/?p=690469 Entity seeks to provide products suitable for specialists, professionals in food production marketing

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Egyptian Nile Food Industries Company is planning to inject investments worth EGP 10m in a new factory to process potatoes next year.

Mahmoud Hendy, the CEO of the company, said that the company is waiting for the licenses of the land of the project, on an area of 2,000 metres. The production capacity of the factory is expected to reach 1,000 annual tonnes.

He added that the company has achieved exports worth $12m. It aims to maintain the export rate this year, noting that the company has a production line for frozen vegetables and fruits with a production capacity of 45 daily tonnes, but it is currently operating with a capacity of 20 and 22 daily tonnes. Hendy revealed that the most prominent obstacles faced by exporters include extreme conditions by the Egyptian Food Safety Authority, demanding lesser severe conditions.

He pointed out that contracts were already terminated with a Saudi importer as a result of these conditions, explaining that the company exports to many countries, including Iraq, Lebanon, the EU, Australia, America, and England. New markets are planned to be opened this year in South Africa.

Furthermore, Hendy stressed that the company is interested in international exhibitions, such as Gulf Food, Sial, and Anuga, especially that they support direct meetings with clients and allows for understanding their needs. They also contribute toward promoting Egyptian products, especially through giving attention to the form of the Egyptian pavilion there.

The factory of the company was established in 1995. It produces frozen vegetables, including peas, mulukheya, taro, okra, and spinach. It also produces fruits, including mango and apricot. It also seeks to provide products that are suitable for a group of specialists and professionals in food production marketing.

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Concept Exhibitions organises Egyptian pavilion in 5 food industries’ exhibitions https://www.dailynewsegypt.com/2019/02/20/concept-exhibitions-organises-egyptian-pavilion-in-5-food-industries-exhibitions/ https://www.dailynewsegypt.com/2019/02/20/concept-exhibitions-organises-egyptian-pavilion-in-5-food-industries-exhibitions/#respond Wed, 20 Feb 2019 12:30:45 +0000 https://www.dailynewsegypt.com/?p=690466 Gulfood opens markets of Gulf, Eastern Europe for Egyptian products: Chairperson

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The Egyptian food industries sector aims to be present in four main international exhibitions to market its products around the world. The exhibitions include Gulfood, Anuga, and Fruit Logistica.

Dalia Kabil, the chairperson of Concept Exhibitions, said that the food industries sector will be present in various countries this year to cover the markets targeted by working companies.

She said that the sector targets international exhibitions to meet clients and how Egyptian products are able to meet their needs.

Furthermore, she pointed out that the sector was in Food Logistica where over 3,000 companies exhibited their products from 130 countries around the world. It received 77,000 visitors.

The Egyptian sector is present in Gulfood in Dubai during the current edition for the 20th time since the exhibition started as the largest specialised exhibition in food industries in the MENA region and the second largest exhibition across the world.

The Egyptian sector aims to be present in Gulf Food and Anuga exhibition as well as WorldFood exhibition in Russia.

“In Moscow, Egypt has a good reputation in the industrial sector, especially in frozen products and cheese,” Kabil said.

The sector is also seeking to be present in a new exhibition in the US called Fancy Food Show in June. It targets North and South America. The sector also receives invitations from other major markets in Canada as the largest food importing country in the world.

Kabil highlighted the substantial growth in some emerging fields including dates. The number of companies to which there are date exports has increased up to 12 companies, compared to two companies only a few years ago.

Moreover, Kabil said that the sector has great importance across the world in the area of East Asia, specifically in Indonesia which receives the majority of exports from Egypt.

She explained that signing a cooperation protocol with China as a new market to receive Egyptian dates will be a new push for the Egyptian sector. Additionally, China has sent official agreements from its side in preparation for receiving products starting from next season.

Plus, she added that Egypt holds an annual festival for dates in Siwa to help introduce new technologies to develop production operations according to international standards, which qualified the product for strong competition in international markets.

“The festival enhances the value of the product for local and international consumers, especially since many of them have started to change their attitude towards dates, from considering date products consumed only in Ramadan, to one that is consumed all year long.

She noted that there is great attention given by EU countries to Egyptian dates, however, they demand high-quality products and special specifications, which require developing the products quickly to benefit from this massive market.

Morocco and Tunisia are two of the largest markets that compete against Egypt in date products, and with the desire of countries to import from Egypt, the sector will achieve major development over the upcoming period.

In terms of products that Egypt is characterised by, she said that table olives have a strong reputation internationally, especially that Egypt is a producing country.

She added that Egypt ranks fourth in exporting frozen strawberries and being intensely present in the existing markets as well as focusing on new markets.

“Exhibitions are a main road for export and opening new markets through meeting new clients. However, Egypt has reduced the budget to be present in these markets after liberalising the exchange rates. On the other hand, companies try as much as possible to attend with a special budget to benefit from exhibitions,” Kabil said.

She also elaborated that the Export Council organises several promotional missions on an annual basis as an alternative for exhibitions, however, this does not mean neglecting them.

Kabil also explained that the Export Council adopts SMEs inti the sector when they exhibit in exhibitions through arranging bilateral meetings for them in their pavilion in order to reduce costs as much as possible.

She also indicated that 70% of the companies are registered in the Export Council and the rest are small and large companies.

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Paste and Juice completes agriculture mechanisation project cutting its prices by 20% https://www.dailynewsegypt.com/2019/02/20/paste-juice-completes-agriculture-mechanisation-project-cutting-its-prices-by-20/ https://www.dailynewsegypt.com/2019/02/20/paste-juice-completes-agriculture-mechanisation-project-cutting-its-prices-by-20/#respond Wed, 20 Feb 2019 12:00:35 +0000 https://www.dailynewsegypt.com/?p=690453 Adding a new daily1,000 tonnes production line this year: Export Director

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Paste and Juice has completed its new agricultural mechanisation project and aims to add a 1,000 tonne new production line by the end of this year.

The company’s Export Director, Mahmoud Sisi, said that they completed the mechanisation project and conducted a trial. The project automatically sorts tomatoes to export only the highest quality and compete abroad.

He pointed out that the company’s new project will help to reduce prices by between 15 and 20% as the company controls the product since the stage of planting the seeds in the ground until the last stage of them as a final product in barrels.

Furthermore, he added that the company will increase its production capacity by 1,000 tonnes before the end of this year, which means that the total capacity will reach 1,700-2,000 tonnes to meet all the domestic and import needs.

Moreover, he added that with the completion of the agricultural project in full, production capacity of the new line will reach a daily 2,000 tonnes, where the company plans to develop both of its two current production lines of 200 and 500 tonnes per day.

He noted that the new investments of the company reach over EGP 20m worth of equipments alone, while total new investments will reach EGP 35m — all of which is self-financed.

The company has increased exports by 20-25% in 2018 against 2017, where exports increased from 20,000 tonnes to 30,000 tonnes. The company plans to reach 70,000 tonnes in 2019, he said.

Exports accounted for between 85 and 90% of the production and the rest of the local market, where it exports to Germany, Italy, the Czech Republic, Poland, Romania, Austria, the Netherlands, Croatia, and some Arab markets, notably Morocco, Jordan, Saudi Arabia, the UAE, and some African countries including Kenya, indicated Paste and Juice’s export director.

Over and above, he elaborated that his company aims to double exports by 135% by the end of next year before adding the new production line.

Additionally, he stressed that the liberalisation of energy prices will raise the product prices, which threatens their competitiveness abroad, as one of the most important criteria for external competition are quality and price.

What’s more, he highlighted that the Gulfood exhibition will help the company to be present in the Gulf countries only, but it also helps to identify customers from all countries of the world, especially the European market.

In addition, he stated that his company seeks to stay updated with the new developments in the world of tomatoes and to know what was invented by its counterparts from all countries of the world.

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Riyada Egypt plans to increase its exports by 25% https://www.dailynewsegypt.com/2019/02/20/riyada-egypt-plans-to-increase-its-exports-by-25/ https://www.dailynewsegypt.com/2019/02/20/riyada-egypt-plans-to-increase-its-exports-by-25/#respond Wed, 20 Feb 2019 11:30:46 +0000 https://www.dailynewsegypt.com/?p=690450 Exports face fierce competition from Turkish products: Sudan

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Port Said Food Industries and Dairy Products (Riyada Egypt) aims to increase its exports by 25% this year to reach $10m instead of $8m last year.

Chairperson of the company, Ibrahim Mohamed Sudan, said that Riyada Egypt plans to open new markets for its products in South Africa and East Asia as part of its plan to increase exports, as well as resume exports to markets that have been halted due to security disturbances and wars, including Yemen, Syria, Iraq, and Libya.

He pointed out that the company aims to inject investments worth EGP 200-230m over three years starting from this year to support the expansion plans and increase the capacity of production of packaging and cheese of different kinds.

“The company exports between 35 and 40% of its production to more than 22 countries in Africa, the Middle East, South America, Morocco, Jordan, and Saudi Arabia, while the domestic market accounts for 60-65% of production,” Sudan said.

The company relies on the import of 60% of raw materials, especially materials for packaging to raise the competitiveness of products.

He explained that Riyada Egypt owns a factory on an area of 40,000 sqm in Port Said with a capacity of 13,000 tonnes per month, with six production units, each of several production lines.

Riyada Egypt produces natural cheeses, cooked cheese, oriental and white cheeses, mozzarella cheese, as well as 10 gram butter for airlines and hotels.

Furthermore, he highlighted that the most prominent obstacles to export is the length of the shipment period of up to 30 days, in addition to the delay in the payment of subsidies for export and fierce competition by some countries, including Turkey.

Riyada Egypt was established in 2005 with a production capacity of 20 tonnes of milk per day. Its total capacity has since increased to 130 tonnes per day. It is a joint stock company owned by the family and works in the local market in the production and distribution of cheese.

Sudan said that the company has recently acquired the rights to package cooked mozzarella cheese of Kraft Foods Inc for the purpose of producing and distributing it in Egypt and a number of African countries due to the commitment and accuracy of the company in production that won it ISO 22000-ISO 9001-OHSAS 18001-Haccp, thus affirming the company’s comprehensive quality and adherence to international standards.

Moreover he emphasized that Kraft Foods Inc had a plan to put its products in Egypt through local companies, and Riyada was chosen after competing with six other companies. He noted that they contracted on importing three production lines from Germany and Denmark to implement the expansion plan, which includes Kraft packaging products.

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Bell Foods to raise its exports by 300% in 2019 https://www.dailynewsegypt.com/2019/02/20/bell-foods-to-raise-its-exports-by-300-in-2019/ https://www.dailynewsegypt.com/2019/02/20/bell-foods-to-raise-its-exports-by-300-in-2019/#respond Wed, 20 Feb 2019 11:00:13 +0000 https://www.dailynewsegypt.com/?p=690448 Bell Foods targets 300% increase in this year's exports: Peter

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Bell Foods for herbs and spices aims to launch a new line to sanitise the products with investments that amount to€3m throughout 2019, according to the company’s imports and exports director, Maher Peter.

The new line is aiming at improving the products’ quality to compete the imported products, Peter said, adding that it will work with a capacity of two tonnes per hour.

“The new line will sanitise the raw materials to be sold to other companies at a reasonable price to substitute the imported material, which will save foreign currency,” Peter stated, adding that the new line will operate by the end of 2019.

The company is looking forward to a 300% increase in its exports, which means it has to jump from $500,000 in 2018 to $2m in 2019, Peter said.

He urged the government to help exporters to meet the criteria of the foreign companies by facilitating the products’ screening process, which will reflect on the trust in the Egyptian-made product, as well as providing the exporters with a list of the committed clients.

The director indicated to the economic reforms made by the government in 2016, saying that it has boosted Egyptian exports, especially the liberisation of the exchange rate that provided the state with a foreign currency cover.

He also praised the role of the Agriculture Export Council in organising the overseas fairs, stressing his company’s keenness on taking part in the Gulfood fair, as it is one of the major fairs that attracts a large number of visitors, which will serve to market Egyptians products.

Bell Foods is a company for herbs, seeds, and spices. It was established in 1997 relying on Egyptian-made materials. It exports to global markets in Gulf, Europe, Latin America, and Asia, and plans to expand to the African market.

The company already has a grinding line with a monthly capacity of 75 tonnes, and a sieving line with a monthly capacity of 65 tonnes, in addition to a line for tamarind with a monthly capacity of 10,000 boxes, and a line for discoloured and impurity sorting with a monthly capacity of 135,000 tonnes.

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Opportunity with Forex Trading https://www.dailynewsegypt.com/2019/02/20/opportunity-with-forex-trading/ https://www.dailynewsegypt.com/2019/02/20/opportunity-with-forex-trading/#respond Wed, 20 Feb 2019 10:43:37 +0000 https://www.dailynewssegypt.com/?p=690537 As a society, we are presented with increasingly more investment opportunities in an ever more flexible world. Few, though, have the impact of forex trading.

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As a society, we are presented with increasingly more investment opportunities in an ever more flexible world. Few, though, have the impact of forex trading. Many are choosing to trade in their traditional career path in favour of trading currency and other instruments in the world’s largest trading market. Some are even relocating their lives to a place they consider to be the best country to trade forex. The appeal is often the flexible working style, being able to trade from home, yet with huge earning potential. This potential is further enhanced by factors such increased leverage and education available to help traders improve their skills.

Where to Get Started

One of the most enticing points in regard to becoming a forex trader is the ease with which you can get started. Nowadays, all of the top currency trading sites make this a very easy and fast process. Some of the best brokers for beginners can facilitate trading from within minutes of registration. This is as simple as registering with a forex trading website such as RCPro, and the rest falls in to place very quickly.

From here, you can choose which currencies or other markets you wish to trade in. These range from foreign currency pairs, to CFDs in stocks, commodities, energies, indices, and cryptocurrencies. Forex trading is about diverse opportunities and possibilities, and this is something which the best online forex trading brokers realise.

Factors Which Make Forex Trading an Attractive Choice
Flexibility

Forex trading currency online, regardless of trading instrument, allows many of those who may usually be constrained to office hours, a strict hierarchical workplace structure, and being under the authority of a boss, to suddenly become their own boss. The first realisation of many new traders is how fundamental forex trading is about freedom and being in charge of your own life. The ability to make your own decisions is a majorly attractive element of becoming a forex trader.

Earning Potential
It almost goes without saying, but the opportunity to greatly increase earning plays a vital role in attracting people to online foreign exchange trading. They are no longer restricted to earning a limited salary. Those engaged with extensive knowledge of trading and top forex trading platforms, have unlimited earning potential, and can expect to take home sizably more than they would in a traditional working role. Naturally, this is not without risk, however with experience and increased trading knowledge, the likelihood of substantial earnings increases.
Long Term Prospects as a Forex Trader

One aspect which some doubters may raise against any self-employed, more flexible, career move is that of the long-term. With forex trading, there are so many opportunities to learn. This is particularly true if you have chosen to deal with a top broker. They offer extensive resources which are all geared toward improving your knowledge and bottom line as a trader. Forex trading is about personal progress and development just as much as any other career choice. This encompasses learning about trading platforms, tools such as your forex trading calendar, strategies, and patterns, as well as which markets to select.

As the number of available trading markets continues to increase, with top brokers now offering hundreds of CFD trading opportunities, so too do the long-term prospects of traders. As with the opportunity as a whole, new trading markets within that, open increased opportunities.

Overall, the long-term prospects in the industry are excellent for traders who are willing to embrace the available opportunities to upskill and learn more about the industry and markets. This challenge and chance to self-develop is also something which is sought after and attracts many new and experienced traders to the industry.

Conclusion

Ultimately, if you choose to follow the wide range of trader who have joined the industry in trading and spread trading forex, the same positive opportunities await. Once you have established a relationship with one of the top forex brokers in the industry, this will guide the future direction of your trading career. Utilising the features and tools to learn more about the markets and industry will certainly help you unlock the earning potential and other benefits which have attracted so many to the industry in recent years.

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Senyorita targets 18% increase in exports https://www.dailynewsegypt.com/2019/02/19/senyorita-targets-18-increase-in-exports/ https://www.dailynewsegypt.com/2019/02/19/senyorita-targets-18-increase-in-exports/#respond Tue, 19 Feb 2019 15:53:41 +0000 https://www.dailynewsegypt.com/?p=690371 Company aims to increase its exports from $7.5m last year to $8.9m 2019: Head of Export

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Senyorita For Food Industries Company aims to achieve an increase in its exports by 18% this year through expanding in the African market.

Tarek Younis, the head of export at the company, said that the company targets increasing its exports from $7.5m last year to $8.9m this year.

He pointed out that the company aims to expand in the market of South Africa this year through exporting biscuits which were met with great demand there; however, the increased cost of shipping is a prominent obstacle facing exporters.

Younis explained that any new increase in the prices of energy will lead to an increase in the prices of products given the high cost companies have to deal with, which might impact the competitiveness of local products abroad. He noted that the cost of shipping is 80% of the cost of the final product.

He went on to clarify that the prices of potatoes currently range from EGP 2,800 to EGP 4,600 per tonne, affecting the cost of producing potato chips. He said that the company has absorbed the new increase in the price of final products this month, but it is considering increasing prices by 10-15%.

Furthermore, he stated that the company is working to transfer its factories in Alexandria to the main headquarters in Sadat City in Cairo this year to reduce shopping costs. There is also a plan to open a new production line with a daily production capacity of 2500 cartons this year.

Moreover, he said that the most prominent countries the company exports to include African countries, Qatar, Saudi Arabia, Lebanon, Algeria, Tunisia, and Morocco, however, several markets have seen crises due to the strictness of their governments towards Egyptian products.

Over and above, Younis highlighted that despite the company’s commitment to the standard specifications, shipments are refused without any reasons and the high cost of transportation to Libya has led to a drop in exports at these high rates.

Some markets have stopped importing from Egypt during the past year, including the Sudanese market, for example, despite the intervention of the political leadership to end the crisis of exports, emphasised the company’s head of export. Also, he added that the market of Sudan is one of the most important markets in Africa where 40 containers used to be exported to it every month.

Disturbances and wars in Yemen have led to stopping the work of the port of Hodeidah and replacing it with the port of Aden, which led to higher freight costs and therefore higher export costs, he elaborated.

Younis further explained that exporters need support in terms of the expenses of the cost of shipping and regular payment-that kind of support-as the company has not received its dues for a long time.

Younis demanded committing to the 2020 plan of the council to increase exports, noting the importance of preparing a plan for the target market and establishing market centres within several countries as well as activating the role of the programmes to support exports.

Furthermore, Younis described the Egyptian market as attractive to investments especially in the field of food industries. This is due to the large population census and the increase in the demand for foodstuffs of all kinds, which means that investment in food has a large market sought by foreign and domestic investors.

Moreover, Younis pointed out that foreign exhibitions are working to promote Egyptian products and that the company is keen on participating in foreign exhibitions. He called on the Export Council for food industries to expand these exhibitions, which are a good opportunity to identify new customers.

He added that the most prominent obstacles before export is some traders buying large quantities of products and exporting them through agreeing with customs agents, which harms the reputation of Egyptian products, especially if the goods were damaged due to poor transport and shipping.

Additionally, he stressed that there are products allocated to local production and are usually smaller in size while the products allocated for export are larger and the trader or exporter in that case exports them for prices lower than the company’s prices, putting companies in trouble with the official agents in different countries.

Younis called for preventing the export of any product before obtaining an official approval from the producing company to limit the smuggling of products.

What’s more, Younis added that Senyorita applies all quality standards in all stages, starting from crude materials, to the stage of production and transport.

As for the competition against imported products, Younis said that efficient market rules require not closing the market instead it must be open to competitors through the import and export processes, creating a climate of competition that ends up making everyone work to raise the quality of their products and reduce their prices to serve consumers.

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Sector became attractive for investment, leap is expected this year: Chamber of Food Industries https://www.dailynewsegypt.com/2019/02/19/sector-became-attractive-for-investment-leap-is-expected-this-year-chamber-of-food-industries/ https://www.dailynewsegypt.com/2019/02/19/sector-became-attractive-for-investment-leap-is-expected-this-year-chamber-of-food-industries/#respond Tue, 19 Feb 2019 15:36:39 +0000 https://www.dailynewsegypt.com/?p=690368 Egypt is main gate into African market

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The Chairperson of the Chamber of Food Industries of the Federation of Industries, Ashraf El Gazayerly, said he expects new investments to enter the food industry sector this year, most prominently, Egyptian French Lactalis-Halawa group acquiring Greenland earlier this year.

El Gazayerly told Daily News Egypt that this deal is likely to increase the volume of foreign investment over the upcoming period in the food sector given the alliance’s major ability to enter the markets of Africa, the Middle East, and the Gulf, in order to benefit from the commercial deals that give a competitive advantage to Egyptian products in the Arab and African market for dairy products.

Lactalis-Halawa has acquired Greenland in a deal worth EGP 890m.

El Gazayerly expects similar deals to take place during the coming future since the market encourages investment, especially that Egypt is the main gate into the African market, in addition to the fact that there is an advantage from the increased demand in the Gulf market. This, therefore, increases the volume of direct investments and indirect investments in the local market, estimated to be worth EGP 500m.

Furthermore, he explained that the biggest challenge about investing in the sector currently is the weak consumer purchasing power, which is considered a main indicator of companies’ growth, however, the heavy population has contributed to limiting the negative effects of inflation.

Moreover, he pointed out that companies are competing to present new products that are able to compete in terms of the quality and price in order to maintain their share in the market and increase sales.

The sector of food industries has seen a growth in 2018 with a recovery for the currency. It has also seen major expansions of food industries in the local market to increase export rates added the chairperson..

El Gazayerly expected the local market to recover completely from the decline in the demand on food products in the markets over the upcoming period; however, it is dependent on inflation rates.

He highlighted that the increase in the bank interest rate is one of the biggest challenges facing investment in the sector of food industry. That is because it attracts major opportunities to inject new investments, which would leave a negative impact on the competitiveness of the product in the local and international market because the interest rate price makes investors prefer to deposit funds in banks instead of investing them into projects which might have more risks and less profits.

Over and above, he explained that the state’s policy is aimed at total liberalisation of energy prices and will have a positive impact on the long term. It is the only solution for increasing economic growth rates. However, directly, it would have an impact on increasing the cost of production, hence, there will be a great pressure on companies, coinciding with an increase in the prices of services.

“The awaited increase in the prices of energy may push the local market towards a decline in demand rates after the partial recovery from the liberalisation of the exchange rate and the rise in energy prices that followed,” El Gazayerly said.

In addition, he explained that companies are currently undergoing through a trend of reducing their energy production through increasing the efficiency of energy consumption. However, this trend will not be able to accommodate the cost increase.

What’s more, he added that the food industries which will be negatively affected the most are the ones which rely on cooling and freezing as well as products that require low temperatures because they greatly consume electricity. 

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Alamal for Agricultural Crops opens grain plant with investments of EGP 40m https://www.dailynewsegypt.com/2019/02/19/alamal-for-agricultural-crops-opens-grain-plant-with-investments-of-egp-40m/ https://www.dailynewsegypt.com/2019/02/19/alamal-for-agricultural-crops-opens-grain-plant-with-investments-of-egp-40m/#respond Tue, 19 Feb 2019 15:09:09 +0000 https://www.dailynewsegypt.com/?p=690341 Target increase 20% in exports this year: Chairperson

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Alamal for Agricultural Crops plans to open a legume factory by the end of the year with investments of EGP 40m to support its export expansion plans.

Chairperson of the company, Emad Shehata, said that are currently planning to open a new legume factory with investments of EGP 40m on an area of 27,500 sqm on the Cairo-Alexandria Agricultural Road with a daily production capacity of between 300 and 400 tonnes before the end of this year.

He added that the company aims to expand date exports particularly to compensate for the ban on the export of rice, as well as legumes such as sesame, beans and cowpea, through planting with a daily capacity of 500 tonnes.

Furthermore, he pointed out that the company aims to grow its export this year by 20% after the opening of a new plant to produce dates in September 2018, with a production capacity of about 250 tonnes and investments of EGP 63m.

Shehata stressed the possibility and opportunities for expanding date exports in particular, due to Egypt’s substantial production of dates, which reaches 1.2m tonnes, urging the ministry of agriculture to pay attention to the crop and raise farmers’ awareness of the medicines and the control of pests in existing crops.

The prices of dates witnessed a rise during the last season by between 15 and 20% to EGP 18,000 per tonne. Despite the high price, Egyptian production still cannot compete abroad.

Moreover, the chairperson pointed out that there are many countries competing with the Egyptian product in the export of dates, most notably Iraq, and that the company seeks to increase the export of dates in particular to many Arab countries and Asia.

Plus, Shehata added that the new plant of dates will increase the company’s exports from 9,800 tonnes to about 16,000 tonnes by the end of this year and the company targets exports of 60,000 tonnes of legumes.

Additionally, Shehata stressed the importance of participating in foreign exhibitions as a means of gathering a large number of companies from different countries, which contributes to the promotion of the Egyptian product and opens new markets in many countries. He also highlighted the importance of supporting these exhibitions especially for small exporters.

What’s more, he added that the company aims to expand its exports to the markets of Europe and America, where it has already registered there, alongside current markets.

Alamal for Agricultural Crops was established in 1965 to trade agricultural crops. It is a company specialised in manufacturing and processing all agricultural crops and exporting them, as well as importing some agricultural crops needed by the Egyptian market from some Arab and foreign countries.

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Beyti Egypt aims to increase its sales to EGP 5.5bn by end 2019 https://www.dailynewsegypt.com/2019/02/19/beyti-egypt-aims-to-increase-its-sales-to-egp-5-5bn-by-end-2019/ https://www.dailynewsegypt.com/2019/02/19/beyti-egypt-aims-to-increase-its-sales-to-egp-5-5bn-by-end-2019/#respond Tue, 19 Feb 2019 15:03:23 +0000 https://www.dailynewsegypt.com/?p=690361 Construction of 7 production lines with investments of $12m to start in Q2 of this year

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Beyti Egypt aims to boost its sales volume by the end of this year to EGP 5.5bn up from EGP 3.8bn in 2018.

Zakaria Yassin, the company’s export manager, said the company was seeking to increase its sales in the local market by 30 to 40%, as part of its annual plan, as well as targeting 10 to 12% increase in exports.

In an interview with Al Borsa newspaper, he said that the second quarter (Q2) of this year will witness the operation of seven new production lines with investments of $12m, which is part of the company’s five-year expansion plan that kicked off three years ago and will last through to 2020.

Yassin pointed out that the local market is a promising market for juices and dairy products, especially in view of the population density, and the increasing demand for the company’s products, by increasing production volume and adding new varieties. Beyti Egypt is also expanding geographically into remote areas and villages.

Furthermore, he highlighted that exports recorded 13% of the company production volume, and that the company seeks to increase annual exports, after raising exports to $25m in 2018-of which $8m were dairy products, and $17m were juice exports-compared to $7m in 2017.

He revealed that the Libyan market has played a major role in increasing the company’s exports during the past year and the Mauritanian market, where the company registered second place in Mauritania in milk after a German company.

He pointed out that the African market is an untapped gold mine, and it should be used in the coming period, by benefiting from the trade agreements, noting that the company has 18 foreign markets, including Palestine, Mauritania, Ethiopia, Libya, and some Arab countries, as well as Germany and Greece.

He pointed out that the company intends to raise its exports in existing markets and enter 10-15 new markets in the coming period, such as North America, Europe, and China.

He said new markets usually do not start with large sales but gradually increase by diversifying products, such as dairy, cheese and juice products. The company opened its latest production lines, which was installed during the last quarter of 2018.

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Harvest Foods Egypt eyes 35% increase in exports https://www.dailynewsegypt.com/2019/02/19/harvest-foods-egypt-eyes-35-increase-in-exports/ https://www.dailynewsegypt.com/2019/02/19/harvest-foods-egypt-eyes-35-increase-in-exports/#respond Tue, 19 Feb 2019 14:56:20 +0000 https://www.dailynewsegypt.com/?p=690358 Company lost some export markets because of high costs: Exports Director

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Harvest Foods Egypt aims to increase exports by 35% this year by opening new markets.

The company’s Exports Director, Mohamed Abdel Hamid, said that they achieved exports worth $5.4m last year across 25 countries.

He added that the company plans to enter the markets of the United States, Canada, Russia, and Saudi Arabia during the current year.

Furthermore, he pointed out that the company is taking advantage of the presence at Gulfood Exhibition during the current session to conclude new export contracts and attempt to solve the problems facing exports.

Harvest Foods Egypt is a private joint stock company established in 1998 with an investment of EGP 100m in the Sixth of October Industrial City.

Moreover, he explained that the company is participating in the Gulfood Exhibition and aims to open new markets and meet agents in a number of countries in the world.

In a different context, Abdel Hamid said that the company lost a number of export markets during the last period because of the high cost due to the rise in prices of raw materials, and the rise of shipping costs, on the back of the rise in fuel price last year.

Additionally, he stated that the high cost led to the loss of some export markets such as Yemen, Sudan, and Morocco, due to the presence of the Chinese product at a high quality and lower price.

He pointed out that the continued rise in prices of raw materials threatens to increase the prices of the final product during the next period, especially with the price of sesame to EGP 34 per kg and beans to EGP 17.

He added that the expected increases in energy prices threaten the loss of some export markets during the coming period due to the increase in the cost.

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Goldalex aims to double its exports, compensate for last year’s decline https://www.dailynewsegypt.com/2019/02/19/goldalex-aims-to-double-its-exports-compensate-for-last-years-decline/ https://www.dailynewsegypt.com/2019/02/19/goldalex-aims-to-double-its-exports-compensate-for-last-years-decline/#respond Tue, 19 Feb 2019 14:47:59 +0000 https://www.dailynewsegypt.com/?p=690346 Company targets to grow exports by 100% this year to reach $20m

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The Egyptian Gulf Centre Company (Goldalex) intends to double its exports this year by expanding in existing markets and opening up new markets.

Fadi Mohamed Tarek, a member of the board of directors of the company, said that they aim to grow exports by 100% this year to reach $20m, up from $10m last year.

He pointed out that last year was not good for the company and exporters of agricultural crops and vegetables frozen in general due to the requirements and restrictions set by some Arab countries, pointing out that the company is keen to provide high quality products.

Tarek stressed the importance of changing the subsidy system to serve exporters, placing hope on the prime minister’s directives during the coming period to change the subsidy system instead of the current system which leads to accumulated dues of export companies and their inability to disburse their entitlements for several years.

The company aims to expand into Africa in the coming period, while Goldalex is currently exporting to many Gulf countries, Europe, Australia, and Canada.

Furthermore, he called on the competent authorities to provide information on the African market, which serves exporters, especially as the African market has a lot of obstacles.

Goldalex is an Egyptian joint stock company founded in 1990. It is one of the first private companies specialised in exporting vegetables and frozen fruits. The company has a trademark of Goldalex products registered locally and internationally.

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Galina-Agrofreeze eyes sales of EGP 400m in 2019 https://www.dailynewsegypt.com/2019/02/14/galina-agrofreeze-eyes-sales-of-egp-400m-in-2019/ https://www.dailynewsegypt.com/2019/02/14/galina-agrofreeze-eyes-sales-of-egp-400m-in-2019/#respond Thu, 14 Feb 2019 08:30:15 +0000 https://www.dailynewsegypt.com/?p=689861 Company increased its production capacity by 133% to reach 35,000 tonnes

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The Egyptian British Company for General Development (Galina-Agrofreeze) aims to achieve sales of EGP 350-400m this year, up from EGP 180m during last year.

Abdel Wahid Soliman, chairperson of the company, said that they marked a breakthrough in their sales’ volume over the past years where they targeted EGP 175m, but managed to achieve EGP 180m sales, which is up by EGP 5m.

He explained that the company has developed its production lines over the past year, with a total investment of up to EGP 100m in order to meet the local market’s demand, and to grow the company’s business volume.

Soliman added that the company saved 47% of the investments in hard currency through the Central Bank of Egypt’s initiative for small and medium enterprises, at a 5% annual interest through Al Ahli Bank of Kuwait.

He said that the company bought a set of new production lines which raised its production capacity from 15,000 tonnes to 35,000 tonnes per year, a percentage increase of 133%, which also urged the purchase of new refrigerators in order to preserve the production.

Furthermore, Soliman explained that the company’s products witnessed a double increase in demand from abroad during the current year, especially in strawberry. The company is being supported in meeting this demand through the changes applied in its factories which enable the use of modern technology, thereby preventing the human factor from intervening.

“Errors are almost non-existent when it comes to modern technology, as products are sorted based on quality, which helps the company commit to its clients abroad,” he explained.

Soliman added, “Automatic sorting is a new method adapted by big global companies. This year, contracts for strawberries grew four folds, compared to the same period last year, reaching 8,000 tonnes.”

He pointed out that the company imported another strawberry manufacturing line for its production in six categories, such as cubes, slices and others, adding that the company aims to boost the contracts to reach 12,000 tonnes this season.

Furthermore, Soliman noted that the company started to export grilled aubergine, which is a new product, and was met by a demand in the Eastern European countries. The company signed contracts for 2,000 tonnes of this new product, in addition to acquiring new production lines for it in 2018.

The company also imported a new production line for broccoli to enable splitting it from its roots in a shorter time and with a higher quality, as the human element previously lead to the loss of 50% from each plant. Galina-Agrofreeze also imported a new production line in order to manufacture mallow, commonly known as ‘Mulukhiyah’, into frozen cubes.

He pointed out that Galina-Agrofreeze has started testing the operation of a new line to enable the production of burgers from vegetables only, without including any meat, and was met by a fair demand in the EU market. He noted that the company will likely achieve high sales of this product in the coming period.

Regarding the company’s new markets, Soliman said that they are keen on attending exhibitions around the world, especially in Europe and Russia.

Moreover, he explained that the company was able to penetrate two new markets last year which are Kuwait and Canada, and plans to enter more ones this year, including Japan.

It is worth mentioning that the company exports to several markets such as America, Canada, Europe, some of the Gulf states, Africa, and Asia. Europe alone accounts for 60% of the company’s annual contracts.

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