Egypt’s agricultural exports surge in Q1 2024

Country: Egypt
Egypt’s agricultural exports surge in Q1 2024
30 March 2024

Egypt's agricultural exports have surged to $1.5 billion in the first quarter of 2024, representing a substantial increase of $300 million compared to the same period last year. Elsayed Elkosayer, the Minister of Agriculture and Land Reclamation, proudly announced this achievement, highlighting that Egyptian agricultural exports exceeded 2.2 million tonnes in volume.

Despite facing global and regional challenges affecting supply chains, Egypt managed to achieve this impressive milestone. The government's temporary halt on the export of certain agricultural products aimed to stabilize the local market amidst these challenges.

Minister Elkosayer emphasized the success of opening 95 markets over the past decade, enabling Egypt to export more than 400 agricultural commodities to 160 countries. These exports primarily comprise surplus goods beyond local demand, with products like citrus fruits, strawberries, and potatoes showcasing a competitive advantage.

The primary objectives of these exports include boosting economic returns, supporting farmers, and ensuring the sustainability of Egyptian producers. By strategically marketing surplus production, price stability is maintained, leading to increased profitability.

Egypt's fresh and processed agricultural products have become crucial sources of foreign currency, with total exports in 2023 amounting to approximately $9 billion. Specific export figures for the first quarter of 2024 were provided by Saad Moussa, the supervisor of agricultural quarantine, detailing significant quantities of various products.

Overall, agricultural exports have become the second-largest source of Egyptian national income in foreign currency, as reported by the General Authority for Export and Import Control at the Ministry of Trade and Industry. This demonstrates the significant contribution of the agricultural sector to Egypt's economy and its resilience in the face of challenges.

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