Egypt signs deal with Euroclear to boost domestic debt management    Erdogan says Turkey to resume Syria offensive if truce deal falters    Spanish government dismisses call for Catalan talks; police brace for more unrest    Egypt's Cooperative Insurance Society to cover NGOs clients' loans    Angry over Brexit, thousands gather in London demanding new referendum    After a young pupil dies of meningitis in Egypt, tips to help prevention    Live score: Zamalek v Arab Contractors (Egyptian Premier League)    Irish clubs set to meet to discuss a new cross-border league    Bulgaria coach Balakov resigns following racism fallout    Wide protests in Lebanon against ruling elite over economic corruption    U.S.-China trade deal will be signed by middle of November: Trump    Egypt's PM urges US's ADTRAN Inc. to invest in communications equipment    World Bank launches human capital investment plan in MENA, North Africa    French President Macron receives Egypt's Coptic Pope Tawadros II at Elysee    Oil prices drop as China slowdown weighs    Egypt urges its citizens in Lebanon to exercise caution as protests continue    Egypt says strategic wheat reserves enough to cover its needs until February    Egypt keen to support DR Congo: Ambassador    Cairo metro back to normal operations following hours-long power disruption    Egypt's Pope Tawadros opens Saint Mary, Mar Youhanna Church in Belgium    Egypt's Irrigation minister reviews latest developments of Ethiopia's Renaissance Dam in Budapest    'Passports should be valid for six months,' Egypt's foreign ministry advises citizens planning travel abroad    Unpaid work hits 35% of Egypt's GPD, but still not included in economic calculations: IMF    Grand Nile Tower Arts & Cultural Centre launches second round    Egypt's coach Hossam El-Badry satisfied with winning start despite technical problems    Hundreds released    Luxor's new discoveries    Moroccan film Nomades scoops awards in Alexandria Film Festival    Toshiba's JV with Egyptian Elaraby opens regional HQ in South Africa    Six authors vie for Booker prize 2019, Atwood in the lead    In Photos: A sneak peek into rehearsals for the Cleopatra ballet world premiere    Sisi, Ethiopia's PM to meet in Moscow to discuss GERD issue    Sisi: army engaged in attrition phase against terrorism in Sinai since 2013    10K fans to attend Egypt's friendly against Botswana in Alexandria: EFA    Sisi, Ethiopia's PM agree to overcome obstacles in Nile dam talks    Farwell to Egyptian comic actor Talaat Zakaria    Court sentences six to death, 41 to lifetime imprisonment violence related case    Trump says he would release Mideast peace plan after Israeli elections    ACWA Power compares 3 bids to supply production units for Luxor power station    What do you know about gold alloying?    NBE announces EGP 2.5m prizes for handball youth teams for their world achievements    Jennifer Lopez evokes Egyptian outrage post her North Coast performance    Al-Sisi honours Egypt's scholars on Science Day    IS claims responsibility for suicide bombing killing 63 in Afghan wedding    Political parties gear up for parliamentary, senate, local elections    Unprecedented Glory: Egypt win Men's U-19 World Handball Championship    12th National Egyptian Theatre Festival fuel up public theatre art scene    Ministry of Environment has a plan for "black clouds season"    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Senyorita targets 18% increase in exports
Company aims to increase its exports from $7.5m last year to $8.9m 2019: Head of Export
Published in Daily News Egypt on 20 - 02 - 2019

Senyorita For Food Industries Company aims to achieve an increase in its exports by 18% this year through expanding in the African market.
Tarek Younis, the head of export at the company, said that the company targets increasing its exports from $7.5m last year to $8.9m this year.
He pointed out that the company aims to expand in the market of South Africa this year through exporting biscuits which were met with great demand there; however, the increased cost of shipping is a prominent obstacle facing exporters.
Younis explained that any new increase in the prices of energy will lead to an increase in the prices of products given the high cost companies have to deal with, which might impact the competitiveness of local products abroad. He noted that the cost of shipping is 80% of the cost of the final product.
He went on to clarify that the prices of potatoes currently range from EGP 2,800 to EGP 4,600 per tonne, affecting the cost of producing potato chips. He said that the company has absorbed the new increase in the price of final products this month, but it is considering increasing prices by 10-15%.
Furthermore, he stated that the company is working to transfer its factories in Alexandria to the main headquarters in Sadat City in Cairo this year to reduce shopping costs. There is also a plan to open a new production line with a daily production capacity of 2500 cartons this year.
Moreover, he said that the most prominent countries the company exports to include African countries, Qatar, Saudi Arabia, Lebanon, Algeria, Tunisia, and Morocco, however, several markets have seen crises due to the strictness of their governments towards Egyptian products.
Over and above, Younis highlighted that despite the company's commitment to the standard specifications, shipments are refused without any reasons and the high cost of transportation to Libya has led to a drop in exports at these high rates.
Some markets have stopped importing from Egypt during the past year, including the Sudanese market, for example, despite the intervention of the political leadership to end the crisis of exports, emphasised the company's head of export. Also, he added that the market of Sudan is one of the most important markets in Africa where 40 containers used to be exported to it every month.
Disturbances and wars in Yemen have led to stopping the work of the port of Hodeidah and replacing it with the port of Aden, which led to higher freight costs and therefore higher export costs, he elaborated.
Younis further explained that exporters need support in terms of the expenses of the cost of shipping and regular payment-that kind of support-as the company has not received its dues for a long time.
Younis demanded committing to the 2020 plan of the council to increase exports, noting the importance of preparing a plan for the target market and establishing market centres within several countries as well as activating the role of the programmes to support exports.
Furthermore, Younis described the Egyptian market as attractive to investments especially in the field of food industries. This is due to the large population census and the increase in the demand for foodstuffs of all kinds, which means that investment in food has a large market sought by foreign and domestic investors.
Moreover, Younis pointed out that foreign exhibitions are working to promote Egyptian products and that the company is keen on participating in foreign exhibitions. He called on the Export Council for food industries to expand these exhibitions, which are a good opportunity to identify new customers.
He added that the most prominent obstacles before export is some traders buying large quantities of products and exporting them through agreeing with customs agents, which harms the reputation of Egyptian products, especially if the goods were damaged due to poor transport and shipping.
Additionally, he stressed that there are products allocated to local production and are usually smaller in size while the products allocated for export are larger and the trader or exporter in that case exports them for prices lower than the company's prices, putting companies in trouble with the official agents in different countries.
Younis called for preventing the export of any product before obtaining an official approval from the producing company to limit the smuggling of products.
What's more, Younis added that Senyorita applies all quality standards in all stages, starting from crude materials, to the stage of production and transport.
As for the competition against imported products, Younis said that efficient market rules require not closing the market instead it must be open to competitors through the import and export processes, creating a climate of competition that ends up making everyone work to raise the quality of their products and reduce their prices to serve consumers.

Clic here to read the story from its source.