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Thursday, 14 April 2016

Egypt a promising market for German commodities trader BayWa

German commodities trader BayWa sees Tunisia and Egypt as “very interesting” markets, said CEO Klaus Lutz on Monday, according to Bloomberg. BayWa is riding the M&A wave as European agriculture markets are set to see further consolidation. While grain prices are set to remain low, BayWa sees “bright spots” when it comes to boosting sales to the Middle East and North Africa. “The end of sanctions in Iran will open up opportunities, with BayWa having sold 775,000 tons of grain to the nation in the past four to five months compared with almost nothing a year earlier,” Lutz said. The target is for 1.5 mn for the current fiscal year.

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