EGYPT

EGYPT expected to increase its fruit and vegetable exports in 2023 

based on EastFruit analysis 

As  a result of the US dollar doubling its value against the Egyptian pound last year, an Egyptian exporter can now cut the dollar by half, compared to the beginning of 2022, when offering their products internationally. The currency ratio provides a significant advantage to local exporters to sell their fresh produce overseas, rather than domestically. This is also a solid incentive to farmers to increase their production volumes.

While Egypt is one of the 25 largest exporters of fruits and vegetables, it uses its foreign currency earnings to import basic food grains and animal feed. The devaluation of the local currency is certain to stimulate the export, however, it will also inevitably influence the cost of imported feed, wheat, and other food grains. This is likely to result in higher prices of basic food products, such as bread.

About one third of Egypt’s fresh produce derived export profits come from the export of citrus fruits, mostly oranges (over $700 Million in revenue in 2021). Other extremely popular fruits and vegetables are grapes, fresh and frozen strawberries, potatoes, onions, frozen vegetables, and mandarins (about $200 Million in revenue). While fresh produce export volumes from Egypt keep expanding, the local exporters are also actively diversifying their portfolio of clients.

So far, the EU, Russia, Saudi Arabia, and the United Arab Emirates have been the key recipients of fruits and vegetables from Egypt, with the import demand from the USA recently growing. It is only to be expected that fresh and frozen produce exports from Egypt will visibly increase this year.

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