Egypt’s agricultural exports surge in Q1 2024

  • Date: 31-Mar-2024
  • Source: Daily News Egypt
  • Sector:Agriculture
  • Country:Egypt
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Egypt’s agricultural exports surge in Q1 2024

Egypt’s agricultural exports reached an impressive $1.5bn during the first quarter of 2024, marking a significant increase of $300m compared to the same period last year.

Elsayed Elkosayer, the Minister of Agriculture and Land Reclamation, proudly announced that Egyptian agricultural exports exceeded 2.2 million tonnes, all valued at the aforementioned $1.5 billion. This remarkable achievement occurred despite global and regional challenges affecting supply chains. Notably, the Egyptian government temporarily halted the export of certain agricultural products to bolster the local market.

The Minister emphasized that this breakthrough in exports was made possible by successfully opening 95 markets over the past decade. Egypt now exports more than 400 agricultural commodities to 160 countries. These exports primarily consist of surplus goods beyond the local market’s needs. Notably, the country holds a competitive advantage in products like citrus fruits, strawberries, and potatoes.

The primary goal of these exports is to boost economic returns, support farmers, and ensure the sustainability of Egyptian producers. By strategically marketing surplus production, price stability is maintained, leading to profitability.

Egypt’s fresh and processed agricultural products have become a vital source of foreign currency. In 2023, total exports in this category amounted to approximately $9bn. A recent report from Saad Moussa, the supervisor