Egypt’s Fertilizers Exports dropped by $230 mn in Five Months

Big 5

The exports of Egyptian fertilizers sector have been decreased by EGP 1.8 billion (US$ 229.8 million) within the first five months of 2015.

During the first five months of 2015, the exports have reached EGP 831.9 million compared to EGP 2.6 billion at the same period of 2014, a report released by Chemical and Fertilizers Export Council (CEC) on Saturday showed.

The report stated that fertilizers’ exports have been declined by 57% in May 2015 as it registered 170.2 million Egyptian pounds compared to 394.6 million in May 2014.

According to the report, Egyptian Fertilizers Company (EFC) came at the top of sector’s exports as it achieved exports volume of 123.3 million Egyptian pounds at the end of May 2015, followed by AlexFert Company which obtained exports estimated at EGP110.8 million, then ABU QIR Fertilizers and Chemicals Industries Company that recorded exports volume of 94.8 million Egyptian pounds.

The report also stated that the exports of Abu Zaabal Fertilizer and Chemical Company (AZFC) were estimated at 87.7 million Egyptian pounds at the end of May 2015, while the exports of Egyptian Chemical Industries Company (KIMA) hit 71.8 million Egyptian pounds.

Furthermore, the exports of Evergrow for Specialized Fertilizers have reached 54.4 million Egyptian pounds.

Moreover, the report revealed that France has seized 28% of the Egyptian fertilizers exports within the period of January-May 2015 with 211.2 million Egyptian pounds followed by Brazil which captured exports estimated at 167.8 million Egyptian pounds then Greece with EGP100.9 million-exports and Italy with EGP 71.2 million -exports.