Food industries sector should grow 8-10% this year – FEI
The food industries sector is expected to see growth of 8-10% in 2018 after a challenging 2017, head of the food industries division at the Federation of Egyptian Industries Ashraf El Gazayerli told Al Borsa. This increase will come on the back of higher exports and lower inflation — one of the biggest drivers of industry losses in 2017, which ranged from 30-50%, he said. Food producers appear to be moving in line with that vision, with plans already in motion to boost exports in 2018 and beyond. Halwani Bros Egypt is looking to increase its exports by 20% y-o-y in 2018 by expanding its markets presence in existing markets in Europe and North Africa, according to CEO Tarek Madkour. While Beyti Food Industries says it’s planning to double its juice and dairy product exports for the year by tapping into new markets in North America and Europe, as well as expanding in Chad, Nigeria, and Libya.