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Royal Fruits plans to export 60,000 tonnes of agricultural crops Exports to Russia last year were impacted by the decline of the Russian rouble, which negatively affected agricultural crops generally throughout 2015.
Royal Fruits plans to increase its exports from the 27,000 tonnes in 2015 to 60,000 for 2016. Director of Royal Fruits Mohamed Hassan said the company exports the entirety of its production of potatoes, grapes, oranges, strawberries, and pomegranates to the countries of the EU, China, and Russia. Exports to Russia last year were impacted by the decline of the Russian rouble, which negatively affected agricultural crops generally throughout 2015. He said the Central Bank of Egypt's (CBE) decision to set a cap of $10,000 daily and $50,000 monthly on dollar deposits for individuals and companies, the increasing price of the dollar on the black market, and a scarcity of dollars within banks formed the most prominent issues faced by exporters last year. The company intends to participate in the Fruit Logistica exhibition for the first time. He noted that exhibitions were important for promoting Egyptian products and studying both the evolution of companies, which produce crops and packaging developments to keep pace with methods followed in European countries. Hassan emphasised the importance of removing obstacles and creating programmes to give incentives to exporters, especially in light of higher interest rates, which have impacted small and medium enterprises (SMEs). He said the current system is simply a response to the burdens of exporting.
