As Egypt's citrus season comes to an end, growers and exporters are reporting a good year in terms of prices. Mahmoud Esawy, of exporter Al Wessam, said, "This season has been one of the best in terms of profitability."
"The global shortage of citrus has directed all demand to Egypt. Major markets fell back on Egyptian oranges, driving up prices. growers and exporters have been waiting for this recovery," continues Esawy.
"At Al Wessam, the markets where we have achieved a good performance this year are China, India, Europe, especially Rotterdam, and Koper," adds the exporter. "On the other hand, we have done less business than expected in Malaysia and Russia, which has slowed down considerably over the last two months. In total, we exported 40,000 tons this season."
"The season started with higher prices than the same period last year. There were fluctuations in prices, but they remained generally stable during the season and then rose by around 10% towards the end of the season," said Esawy
"Naturally, we obtained higher prices for the big sizes, due to their scarcity this year. In terms of varieties, the most profitable were mandarins and lemons," adds the exporter.
Another factor contributing to this year's profitability is that Egyptian exporters have benefited from the devaluation of the Egyptian pound, which has fallen by a third in value against the US dollar since January, while the bulk of costs, namely labor, are paid locally in pounds.
"We hope to continue this trend next year and expand our markets. We will focus on quality while introducing plans to significantly reduce our costs. In short, next season will be all about controlling quality and costs, in order to be more competitive and take part in this boom period for Egyptian citrus," concludes Esawy.
For more information:
Mahmoud Esawy
Al Wessam Company for Agri Crops
Mob/WhatsApp/WeChat: +201114061313
Email: mahmodesawy@alwessam-eg.com
www.alwessam-eg.com