Investments worth $15 million

Egypt: HB Dates adds three production lines

Egyptian Export Centre for dates “HB” has signed a contract to receive three production lines for dates packaging from Italy and China with investments worth $15 million.

Basma Albanna, the Head of Exports, said that the production capacity of the new lines is an estimated 300 tons daily. She added that the company has two factories. The first in the New Valley on an area of 5,000 sqm, and the second in Menofiya on an area of 20,000 sqm.

Albanna explained that the company’s production is estimated to be 6,000 tons, with 80% of the production exported and the remainder put in the local market.

She pointed out that Egypt is the largest country producing dates with amounts estimated to be 1.4 million tons. However, large parts of these are unsuitable for export as they do not meet international standards and specifications.

Date exports grew by 70% during the first quarter of this year, recording 30,000 tons worth $29.4 mln compared to 17,800 tons during the same period of 2017.

The average prices of dates also increased to reach $980 per tonne, compared to $824 during the same period last year. Dailynewsegypt.com lists the countries Egypt exports dates to -about 42 different countries- as including Indonesia, Morocco, and Malaysia, in addition to new markets in Africa, Asia and Europe.

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