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Extra Global targets EGP 44 mln of exports this season

Ahmed Farahat, chairperson of Extra Global Company for Exporting Agricultural Crops, said the company is working on exporting three main crops: citrus, potatoes and onions, with total quantities of up to 5,000 tonnes per season. Extra Global is aiming to increase its agricultural crop exports by about 10% this season, intent on reaching EGP 44m.

He explained that the company is working on exporting some other products, such as grapes, lettuce and pepper, but in small quantities. He expected that citrus exports will increase this season, which appeared evident with the beginning of the export season. The results of the potato and onion business are expected to improve as well. He said that although citrus fruits were ready for export on 10 November and almost 30 days before last season, the quantities already exported are about 40% lower on average, due to the lack of maturity (colouring processes) for the technical specifications required by foreign markets.

He expected that the citrus export season will improve significantly at the price level compared to last season, with the support of declining global production and, of course, in Egypt, as initial indicators point to Spain's production falling as much as 20%. Spain is the largest producer around the world.

Farahat explained to menafn.com that the decline in the exchange rate and the continuation of the increase in domestic production costs due to the continuation of economic changes and increase in fuel prices weaken the Egyptian crops' ability to compete abroad, but the higher export price will make up for that.


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