Mahmoud Lamei, CEO of City Farm, said that his company actually began its work in supplying products into the American market since 2021, and at that time it achieved annual sales amounting to $28 million, rising to $35 million in 2022, which prompted it to increase its targets for the current year, in light of the remarkable demand for the products.
He explained that the company works in the field of exporting Egyptian agricultural products to various American markets, and has a strong presence in the states of New York, New Jersey, Florida, Chicago, Texas, and Michigan.
Lamei pointed out that the company supplies several agricultural products to American markets, most notably molokhia, okra, taro, green beans, spinach, falafel, green beans, and grape leaves, in addition to bottled juices and peas.
He confirmed that Arab and Egyptian customers represent the largest percentage of sales in the famous commercial chains in the United States, while there is a demand from some other nationalities to buy goods that are considered popular in Egypt, such as falafel, molokhiya, and peas.
He noted that the company is in the process of conducting an ambitious expansion plan aimed at establishing a presence in the European and Gulf markets in the coming period based on the quality of the Egyptian product, in addition to exploiting its remarkable presence in the American market.
He explained that his company has subsidiary arms in the Egyptian market. It has agricultural lands with an area of 120 acres in Menoufia Governorate, which are cultivated with several agricultural crops in order to secure the raw material needed for export, while it is strongly studying to increase that area by purchasing lands ready for reclamation and cultivating them later to raise production capacity.
He stated that the company is open to adding any famous Egyptian goods or products that wish to be present in foreign markets. For example, pickles and dried fruits are exported, in addition to some famous brands of snacks, tahini, and hummus, in addition to spices and hot drinks.
Lamei said that the total production capacity exported from Egypt is approximately 1,300 tons annually, and work is ongoing to increase that quantity, in line with the government’s policy to increase the value and quantity of exports as they are an important source of foreign currency.
He stated that the company relies on the ports of Alexandria and Damietta to export products to America, which are received in the ports of New York, New Jersey, and Florida.
He explained that City Farm's total investments amount to $250 million, represented by annual sales and transportation assets .
He added that the company has a separate brand for canned juices that it manufactures for others in one of the specialized factories in Sadat City, and that it is considering establishing a factory to provide this service in light of the increasing demand for products abroad.
It is worth noting that the latest data issued by the American authorities showed an increase in Egyptian exports of food industries to about $345 million during the year 2022, led by shellfish, vegetables, and dried fruits, especially strawberries.
He stressed that Egyptian companies have export opportunities available in the American market, especially citrus fruits, juices, olive oil, and artichokes.
The American market is considered one of the most important importing markets for Egyptian food products, as the American market occupied second place in the ranking of the most important countries importing Egyptian manufactured foods in 2022 out of total Egyptian exports, which amounted to 4.2 billion dollars in the same year.
He believed that the increase in the volume of exports comes from the expansion of the export of crops with an export surplus, especially vegetables and fruits, and promotion in foreign markets with a move towards markets in Africa, the East and South Asia region, and some Latin American countries.
He stressed that the economic development plan touched on this matter, and this is due to the importance of expanding agricultural exports and the hard currency it will provide for the state in one of the sectors that characterize Egypt, while the expansion of exports opens new horizons and increases the provision of direct or indirect job opportunities.