EGAEIF aims to in­crease pasta ex­ports dur­ing Christ­mas

The com­pany will es­tab­lish a new pro­duc­tion line of spaghetti with in­vest­ments of $6m

The Daily News Egypt - - Business -

The Egyp­tian Emi­rates for Food In­dus­try (EGAEIF) aims to in­crease its ex­ports to $15m dur­ing the fourth quar­ter of the year ben­e­fit­ing from Christ­mas hol­i­days.

Alaa Ez­zat, gen­eral man­ager of EGAEIF, said that the com­pany’s ex­ports reached $9.5m dur­ing the past eight months,not­ing that the de­mand for pasta is ex­pected to in­crease by about 30% dur­ing Q1 2017,es­pe­cially in Africa and North Amer­ica.

He added the EGAEIF started to ex­pand sig­nif­i­cantly in the U.S.mar­ket af­ter it was ex­port­ing its prod­ucts to only three states.The com­pany en­tered new states since July through of­fer­ing new 10kg packs, which are pre­ferred by restau­rants.

Ez­zat fur­ther added the com­pany’s ex­ports of pasta are es­ti­mated at 27,000-30,000 tons per year, equiv­a­lent to about 30% of the to­tal pro­duc­tion which is es­ti­mated at 96,000 tons per year.

He said the EGAEIF cur­rently ex­ports its prod­ucts to the U.S.,Africa, Arab Gulf coun­tries and some Arab coun­tries, and it aims to en­ter new mar­kets, in­clud­ing East Asia, Philip­pine, In­dia, Ja­pan and Latin Amer­ica.

He re­vealed that the com­pany is cur­rently ne­go­ti­at­ing over the im­port of re­quired equip­ment for the con­struc­tion of a new pro­duc­tion line of “Spaghetti”, with in­vest­ments worth $6m and pro­duc­tion ca­pac­ity of 4-5 tons per hour. The pro­duc­tion line is sched­uled to start work­ing by the next year.

Ez­zat said his com­pany is in­ter­ested in par­tic­i­pat­ing in in­ter­na­tional ex­hi­bi­tions, es­pe­cially Sial and Anuga, and Gulf Food – Dubai with the aim to reach out dif­fer­ent cus­tomers around the world.

He pointed out that lo­cal com­pa­nies be­gan to ab­sorb the shock of float­ing the ex­change rate, es­pe­cially as the dol­lar price started to sta­bi­lize, which had a neg­a­tive im­pact on the cost of pro­duc­tion.

THE COM AN IS CURRENTL NE­GO­TI­AT­ING IM ORT­ING THE RE UIRED E UI MENT FOR THE CON­STRUC­TION OF A NE RODUCTION LINE

Ez­zat ex­pected that the food sec­tor will see more for­eign andArab in­vest­ments in the com­ing pe­riod, due to the sta­bil­ity of for­eign cur­rency at the for­mal mar­ket and the de­cline of Egyp­tian pound price which de­crease the in­vest­ment cost for for­eign­ers.

The EGAEIF pro­duces its own brands and some other world­wide well-known brands in the field of pasta in­dus­try too for other com­pa­nies. The com­pany ex­ports its prod­ucts to a large num­ber of coun­tries around the world such as Africa, East Asia and the U.S.

Alaa Ez­zat, the gen­eral man­ager of EGAEIF

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