ArabFinance: Egypts food industries exports are expected to grow by 20% in 2022, Deputy Executive Director of the Export Council for Food Industries Tamim El-Dawy announced.
Food industries exports are forecast to reach $5 billion in 2022, compared to $4.05 billion in 2021.
El-Dawy pointed out that the council maintained growth rates of 18% during 2021 despite the circumstances the world has gone through, including the high cost of supply and shipping chains, and the spread of the new mutant "Omicron", which negatively affected the movement of global trade.
He further noted that food industry exports account for about 13% of Egypt's total non-oil exports, noting that there are new companies that have entered the field of export.
The total number of exporting companies in the sector has reached about 3,000 companies, and large investments are periodically pumped, especially in new products such as frozen vegetables and fruits, medicinal and aromatic plants and dates.
On the council's plan to organize promotional missions, he said that the council is working on all food industries in all countries of the world, so the focus is on each international bloc according to the type of food products that are compatible with it.
Copyright 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).