Fertilizers exports hike 129% in six months- Egyptian council

Egyptian fertilizers sector witnessed a leap during the first half of 2016, registering a 129 percent growth rate.

The total fertilizers exports recorded 2.4 billion Egyptian pounds (US$270.2 million) during January-June 2016 opposed to 1.1 billion pounds at the same period of 2015.

According to the latest report released by state’s Chemical Export and Fertilizers  Council (CEC) on Thursday, fertilizers sector captured 19.4 percent of Egyptian total chemicals exports by the end of June 2016.

In June 2016, fertilizers exports rose by 119 percent to 391.4 million pounds from 178.9 million pounds in June 2015, seizing 17.4 percent of total chemical exports volume in June 2016.

The report stated that exports of Egyptian Fertilizers Company (EFC) hit 604.7 million pounds, getting 24.7 percent of total fertilizers exports. Accordingly, EFC became the third largest exporter in chemical sector.