Food Industries
Exports from the food industry witnessed an average growth of 8 percent year-on-year compared to 2022, according to the data provided by Barzi
The Council was able to maintain growth rates of 18 percent, 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.
This came during a seminar organized by the Export Council for Food Industries on Wednesday, under the title "Opportunities for the Development of Food Industry Exports to Senegal".
The Council indicated in a statement that the exports of March 2021 are the highest value of exports for the period from January to July of 2021, with a value of $384 million.
Deputy Regional Director of the United Nations Industrial Development Organization (UNIDO) Ahmed Rizk praised Egypt’s traditional food industries that have existed for more than 500 years, saying they cannot be overlooked.
The company is established by the National Service Products Organization (NSPO).
Food industry exports account for 13.2 percent of total Egyptian non-oil exports, and it ranks third in the list of the most important Egyptian export sectors during the period from January to November 2020.
Food Industries Holding Company marked a five-percent surge in its net profit during fiscal year 2016/2017, recording LE 310 million.
The plans will include ways to increase Egypt’s exports globally.
Egypt will participate in the 2017 Anuga fair for food industries, which will be held from October 7 to 11 in Cologne in Germany.
Savola’s investments in Egypt surpassed LE 28 million, distributed over five food stuff factories, in addition to carrier networks for transporting those products
The coke and petroleum products sector made the largest contribution to the Industrial sector, representing 16% of the total industrial production volume.
The rebound is attributed to the efforts of the Ministry of Industry in promoting exports, and lifting ban on agriculture and tomatoes exports, Tarek Kabil said.
The Head of the Egyptian Cabinet, Sherif Ismail, issued a decree to form the board of the National Food Safety .
The industrial growth rate hiked 4.7 percent in the first nine months of fiscal year 2016/2017.
Most Read
