Exports of fruits and vegetables from Egypt may rise sharply in 2023

게시됨 2023년 1월 16일

Tridge 요약

In 2023, Egypt is expected to see a boost in fruit and vegetable exports due to a doubling of the US dollar against the Egyptian pound. This situation allows exporters to effectively cut the price of their goods in dollars by half, making exports more financially appealing than domestic sales. Egypt, being one of the top 25 fruit and vegetable exporters in the world, relies on these exports to earn foreign exchange for food grain imports. However, the devaluation of the local currency could lead to higher costs for imported feed, wheat, and other grains, potentially increasing the cost of basic food products like bread. The country's exports are diverse and include citrus fruits, grapes, strawberries, and potatoes, with the EU, Saudi Arabia, Russia, the UAE, and the US being the main importers.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

According to EastFruit analysts, in 2023, the export of fruits and vegetables from Egypt may increase significantly due to a change in the government's approach to managing the national currency. During the year, the US dollar against the Egyptian pound doubled. At the moment, in order for an exporter to receive the same amount in Egyptian pounds for potatoes or citrus sold to another country, he can reduce the price in dollars by half compared to the same date in 2022. And this, undoubtedly, gives a serious incentive to focus on export instead of selling products on the domestic market. The higher competitiveness of Egyptian goods in foreign markets is also a good incentive to expand production volumes. Against the backdrop of a rather unfavorable situation on the international fruit and vegetable markets, when, due to economic problems in different countries of the world, caused primarily by Russian military aggression against Ukraine, the demand for vegetables and fruits has ...

출처: Eastfruit