Egypt, Oman discuss ways to enhance scientific cooperation    Egypt imposes anti-dumping measures on aluminium imports for 3 years    Egypt, Italy discuss strengthening cooperation in tourism, archaeology    Benin's President Talon wins re-election in first round with 86.36%    Egypt's Chief of Staff attends 'Al-Fateh-202' training by Southern Military Region    Ramadan Canon returns to announce iftar after almost 30-year pause    Shoukry informs UN Secretary-General of Ethiopia's disputed dam situation    Zamalek's Ashour hit with 12-game ban for making offensive chants against Ahly    US to withdraw all troops from Afghanistan by Sept. 11    Sisi calls for ensuring success of irrigation system mechanisms    Man City's Guardiola tells players to ignore the maths ahead of Dortmund test    Liverpool's Klopp urges caution against high-flying but depleted Real    CIB's stocks hit lowest level in 28 months early Tuesday    US recommends 'pause' for J&J vaccine over clot reports    Nile tensions spill over    African civil society representatives call for GERD 2nd filling postponement    Women more affected than men by depression: Egyptian Psychiatric Association    Human rights vs coronavirus in Egypt    'MySafeUni Day' highlights fight against sexual harassment in universities    Party consensus    Forging a stronger partnership    34 projects worth $3.3bn aim to achieve gender equality in Egypt: Al-Mashat    Egypt's trade deficit widens by 6.6% during H1 of FY20/2021, CBE    Opportune time for archaeotourism    Ora Developers signs an agreement with Telecom Egypt for communication services at its projects    Sisi directs to speed up implementation of digitisation initiative in Egypt    Art Alert: Bahgaga to bring fun to Cairo's Zamalek Theatre with comedy music monologues    Egypt detects 818 new coronavirus infections; 42 deaths on Monday    Water wars    Egypt highlights anti-climate change efforts during Spring Meetings    Don't miss AUC's Lions of Cairo ensemble concert    Al-Sisi, Lavrov address bilateral cooperation, Ethiopia's disputed dam    Narrative Summit launches 1st episode of Reshaping Norms 2021    Russia offers technical assistance in Nile dam negotiation: Lavrov    Egyptian artists honoured at Cairo Opera House for taking part in Golden Parade    Russian FM says Egypt is main partner in Middle East, Africa    Egypt sees an uptick in new coronavirus infections registers 801 new cases on Saturday    PMI moves towards a smoke-free transformation, takes part in a webinar on e-cigarettes    Zamalek's Shikabala nominated for best goal in CAF Champions League    Egypt's national youth fencing team achieves world glory    Karate Federation celebrates success of Egypt Cup    Egypt's President warns of grave consequences of water crises in Africa    Allianz Egypt partners with IGNITE to equip brand ambassadors for 2021 Olympics    Hassan Allam consortium wins contract to manage, operate Grand Egyptian Museum    Enhanced Labs signs Mr. Olympia 2020 "Big Ramy" And His Trainer Dennis James    King Tutankhamun funerary mask is must-see tourist icon: The Telegraph    Seasoned Egyptian screenwriter Wahid Hamed dies at 76    Egypt, Ethiopia, Sudan to resume Nile dam talks today    

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

Belco to maintain its exports at $7m this season
High production costs, a lower dollar and climate change hinder export growth: El-Beltagy
Published in Daily News Egypt on 06 - 02 - 2020

Egyptian Co. for international Trade (Belco) aims to maintain its exports of agricultural products at $7m this season, a figure similar to that of last season.
Sherif El-Beltagy, president of Belco, said there are many global changes that affect the agricultural sector, and export growth is directly related to those changes.
He explained that the past few years saw tensions driven by climatic change and high costs of agricultural production, so the company's exports should stabilise at $7m this season.
He explained that the company is betting in the current season on the strawberry crop, to compensate for the shortfall in the exports of beans, which witnessed a decline in the past few seasons, the last of which was 18.6% in favour of the Rabat and Dakar.
Egypt lost to Morocco and Senegal in terms of exporting beans in the past few seasons as a result of the high cost of production in the country lately, as compared to Morocco and Senegal, which have had stable costs. Bean exports declined last season, between September 2018 and May 2019, to 57,000 tonnes, compared to about 70,000 tonnes in the same period in the season before.
El-Beltagy said the company is betting on the strawberry crop in the new season, which grew in the last season, between September 2018 and May 2019, to 38,000 tonnes, compared to 27,000 tonnes in the corresponding period of the season before.
He said the company has been present at Fruit Logistica as an exhibitor for many years, with the support of the development of the exhibition and the high demand for visitors, and the benefit as an exhibitor comes through meetings with potential clients and with current importers of the company's products.
“The meetings are concerned with assessing conditions of the crops in which the company deals in the new seasons along with the old ones, and getting to know their needs,” he said.
He pointed out that the exhibition will provide interviews with farmers in major countries producing agricultural crops, particularly Spain as a competitive export market, to learn about their agricultural methods, and the safety factors they take to increase quality and specifications.
El-Beltagy said the markets of the EU and England are the main destination for Belco's exports. “Although the company is working to open up to new markets in East Asia, especially in China, Europe is still the best market for Belco,” he said.
He explained that the company has been dealing with the English market for 25 years and that Brexit might take its toll on the company's exports. The impact of Brexit on Britain's currency might negatively impact the company's financial statements.
He said that the company's loss of a major market or its decline in performance represents a real crisis that affects its performance in the local market, adding that the currency decline in England and Europe affects the financial results of the company.
To compensate for this negative impact, the company does one of two things. It either increases its exports, a scenario not always possible, as this ultimately depends on the global supply of goods and the size of the market needs. Or the company increases the prices of its products for its customers abroad, also not always feasible.

Clic here to read the story from its source.