South Korea needs to rethink strategy to enter Egyptian mackerel market

Published 2021년 8월 9일

Tridge summary

A report by KOTRA, the Korean trade promotion agency, identifies Egypt as a promising market for Korean mackerel exports, due to its growing demand for the fish, which is currently met largely through imports. Despite the domination of the Egyptian market by imports from the Netherlands and other countries, KOTRA believes that Korean exporters can succeed by appointing local agents, utilizing the distribution network, and ensuring product approval. The Egyptian government does not impose specific import restrictions on mackerel, making it an accessible market for international exporters.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Egypt, the African economic powerhouse, is growing significantly, showing great potential in the global mackerel market. Accordingly, a report has emerged that Korean seafood exporters can succeed if they plan a strategy targeting the Egyptian mackerel market. KOTRA said in its Egyptian market trend report that mackerel is recognized as one of the health foods among local consumers and the demand is increasing. KOTRA analyzed that Egypt, in particular, has a characteristic of increasing consumption while relying entirely on imports as mackerel production is not available in its coasts. KOTRA predicted that mackerel imports temporarily decreased in the aftermath of COVID-19, but household consumption will recover one after another as Egypt's national economy begins to recover through government projects, leading to a significant increase in mackerel consumption. However, in order for Korean seafood exporters to succeed in the Egyptian market, there are many challenges to ...

Source: Susantimes