Egypt’s Al Monairy for Corn Products seeks to direct 20 percent of its exports to the Kenyan market in 2024, said an official told Amwal Al Ghad on Wednesday.
Atef Hammoud, export and corporate sales manager at Al Monairy, further stated that move comes after the company reported an increase between 10 and 11 percent in its exports to Kenya during the current year, compared to a total of 6 percent in 2021.
Hammoud made his remarks during an event organised by the Egyptian Food Export Council (FEC) in Cairo.
He added that the company is an affiliation of Al Monairy Group, which owns a farmhouse and a plant specialising in olive production, dew mills for the production of flour and semolina, in addition to its title-driven, Al Monairy for corn products.
The company’s decision to enter the Kenyan market came as it is one of the largest markets in the region, Hammoud added. Moreover, Kenya’s Mombasa Port provides logistic availability, especially for landlocked countries. Kenya is also a member of the COMESA agreement, which contributes to increasing the competitiveness of Egyptian products due to their entry with customs exemptions.
The shipping availability in the African markets was also an important factor in the company’s decision to enter the Kenyan market, he noted.
Furthermore, Hammoud mentioned the need for companies seeking to export to Kenya to conduct field visits to study the market from various aspects in order to identify opportunities and ways of entering the market.
He noted that there are no problems with payments, but he recommended the companies to finalise all the procedures and paperwork for any transactions. Importers shall make the transfer three days before the shipment arrives and finalise all the documents in order to avoid any delays in releasing the goods from the port.
About Al Monairy for Corn Products:
Al Monairy for Corn Products was established in 2006 and is located on the 10th of Ramadan, City. It has two mills. The first is a wet corn mill, specialises in producing glucose, fructose, corn starch, corn oil, and gluten feed which uses in various industries such as paper, food production, pharmaceutical production, and etc. The second is a dry corn mill, which produces various granulations ranging from coarse grits to fine flours that are used in a variety of food applications.