ICEC

Egypt’s agricultural exports rise 3.4% in first 11 months of 2017

Egypt’s agricultural exports rose 3.4 percent during the first eleven months of 2017, recording $1.99 billion compared $1.93 billion last year, its agricultural export council said Monday.

Ten countries have captured 65 percent of the Egyptian agricultural exports, the report said, showing Russia on the top of the list, receiving exports worth $290.52 million.

Saudi Arabia ranked second, as exports to the Kingdom reached $286.68 million, followed by Netherlands, receiving $143.41 million. Exports to Britain and Northern Ireland recorded $128.62 million, the report added.

Exports to the UAE hit $109.46 million, while to Italy and Kuwait, they recorded $96.43 million and $84.35 million, respectively. Iraq and Germany received Egyptian exports amounting to $73.19 million and $72.29 million. Libya ranked tenth, the country received Egyptian exports worth $18.19 million.

Egypt’s agricultural exporters have seen a surge in demand since the country floated its currency last November, allowing it to roughly halve in value as part of reforms tied to a three-year $12 billion International Monetary Fund loan agreement.

The export growth comes after a turbulent year for Egyptian produce, with a Hepatitis A scare in North America linked to Egyptian strawberries and a temporary ban on Egyptian fruits and vegetables in Russia, one of Cairo’s major buyers.

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