Egypt eyes 15% rise in food industries exports this year: FEC

Egypt targets between 10 and 15 percent increase in its food industries exports to reach $3.45 billion by 2018, the country’s food export council (FEC) head Hani Berzi said Wednesday.

“This year will witness an improvement in the sector (food industries) owing to the economic stability the country currently witnesses,” Berzi further told Amwal Al Ghad.

It is hard to predict whether prices will hike or fall this year following the floatation of the Egyptian pound last year which resulted in price hikes in all sectors, Berzi said.

“I expect there will be some stability in the prices of food products, yet with a limited rise controlled by market mechanisms and increase in production costs,” he said.