Egypt’s agricultural exports increase by $300M in Q1 of 2024

Egypt’s agricultural exports in the first quarter of 2024 have reached $1.5 billion, an increase of $300 million compared to the same period in the previous year. The Egyptian Minister of Agriculture, El Sayed El Quseir, announced that over 2.2 millio…

Egypt’s agricultural exports in the first quarter of 2024 have reached $1.5 billion, an increase of $300 million compared to the same period in the previous year. The Egyptian Minister of Agriculture, El Sayed El Quseir, announced that over 2.2 million tons of agricultural products were exported during this time.

Despite the challenges posed by global and regional conditions that affect supply chains and the Egyptian government’s decision to stop exporting some agricultural products to support the local market, the country’s agricultural exports witnessed a healthy increase.

El Quseir emphasized that the agricultural products exported are surplus to the needs of the local market and are those in which Egypt has a competitive advantage. These include citrus fruits, strawberries, potatoes, and other agricultural products.

The exports aim to support the Egyptian farmer and producer by increasing economic returns and finding a mechanism to market surplus production. This helps to maintain balanced prices and
ensure appropriate profitability and sustainability.

The Minister of Agriculture also highlighted that exports are an important source of foreign currency, with total exports of fresh and manufactured agricultural produce last year amounting to approximately $9 billion.

Source: State Information Service Egypt