Algeria wants to start exporting cherry tomatoes to the EU

Published 2024년 5월 13일

Tridge summary

Algeria is preparing to export cherry tomatoes to European markets, with local investors looking to capitalize on the lucrative opportunities despite fierce competition from the Netherlands, Morocco, Spain, Europe, Turkey, Egypt, and Morocco. The Souakri group has invested $750 million to cultivate cherry tomatoes across 1,000 hectares, with the goal of generating an annual revenue of $500 million by targeting EU, Russian, and Gulf country markets.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Algerian cherry tomatoes are ready to make their grand debut on European markets. Supported by local investors, Algeria is launching into the battle for the cherry tomato market, until now dominated by the Netherlands, Morocco and Spain. After gaining experience in the national market, Algerian companies such as the Souakri group decided to take on the challenge of exporting to Europe. With ambitious agricultural projects, these investors see the European market as a lucrative opportunity, but also as fierce competition. Currently, only a few Algerian investors have taken the risk of launching into the large-scale production of cherry tomatoes, among them Tahraoui and the Souakri group, specifies AgriAlgerie.com. The latter, with its project in El Meghaier, recently displayed its ambitions in this area. With an area of 1,000 hectares dedicated to the cultivation of cherry tomatoes, the Souakri group has invested nearly $750 million to conquer the markets of the EU, Russia and the ...
Source: Agrimaroc

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