Hesham El-Naggar, CEO of Daltex, expects to achieve good returns for the citrus crop this season, with the support of the declining production locally and internationally, which he attributed to changes in weather patterns that affected the fruits and prevented them from growing fully.
According to a Spanish report, Madrid expects its crop of citrus fruits would initially decrease 17% during the new season, and traders in the local market suggested that this percentage would rise to 25% on average, which would support Egyptian exports.
El-Naggar explained that the improvement in crop exports will be related to value more than quantity, and Egyptian exporters will get competitive prices that will increase the value of their total business results by the end of the season. Citrus exports increased 5.8% last season, to reach 1.8 million tonnes, compared to 1.7 million tonnes in the season prior.
El-Naggar said he also expects the quantities of citrus fruit exports to decrease in the new season after Europe has signed changes in the contracts of oranges, as it required the rapid cooling of shipments, which will relatively increase costs, amidst the inability of many exporters to follow the new guidelines.
He added that exports of agricultural crops will be affected in the new season, driven by the decline in production of citrus, the largest export crop, and the relative decline in potato production globally. "We hope the exports of other crops improve," he told menafn.com.