Egypt - City Farm, an Egyptian company that specializes in exporting frozen vegetables to the US, aims to increase its sales in this market to $50m this year, a 43% growth from $35m in 2022.
The company has been operating in the US market since 2021, when it achieved annual sales of $28m, and has seen a remarkable demand for its products.
The company’s CEO Mahmoud Lamei said that City Farm exports a range of Egyptian agricultural products to various US states, such as New York, New Jersey, Florida, Chicago, Texas, and Michigan. Some of the products that the company offers are molokhia, okra, taro, spinach, falafel, green beans, grape leaves, bottled juices, and peas. These products are popular among Arab and Egyptian customers, who account for the majority of sales in the well-known commercial chains in the US, as well as some other nationalities who are interested in Egyptian cuisine.
Lamei also revealed that the company has an ambitious expansion plan to enter the European and Gulf markets shortly, leveraging the quality of the Egyptian product and its strong presence in the US market. He added that the company’s total production capacity exported from Egypt is about 1,300 tonnes per year and that the government is working to increase this amount in line with its policy to boost foreign currency sources.
He stated that the company’s total investments are $250m, which includes annual sales and transportation assets. He explained that the company uses the ports of Alexandria and Damietta to ship its products to the US, where they are received in the ports of New York, New Jersey, and Florida.
The US market is one of the most important markets for Egyptian food products, as it ranked second among the countries that imported Egyptian manufactured foods in 2022, with a total value of $4.2bn.
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